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Wayne, Incorporated, has a balance sheet equity of $ 5 million. At rhe same time, the income statement shows net income of $ 7 0

Wayne, Incorporated, has a balance sheet equity of $5 million. At rhe same time, the income statement shows net income of $700,000. The company paid dividends of $403,550 and has 100,000 shares of stock outstanding. If the benchmark PE ratio is 14, what is the target price in one year? Assume the firm will grow at the sustainable growth rate.

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