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Vero Inc. has developed a new machine. Therefore, its ROE is expected to be 20% next year, and its earnings retention ratio will be maintained

Vero Inc. has developed a new machine. Therefore, its ROE is expected to be 20% next year, and its earnings retention ratio will be maintained at 30%. Next years earnings are expected to be $4.5 per share and the investors are expecting a 12% rate of return on the stock. What will be Vero Inc.s stock price after 3 years?

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