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What is the value of an all-equity firm (a) that has a dividend payout ratio of 100 percent, (b) that is expected to generate net
What is the value of an all-equity firm (a) that has a dividend payout ratio of 100 percent, (b) that is expected to generate net income each year (forever) of $ 1.29 million, and (c) that has a required equity return (also the ROE) of 15.1 percent? Round to two decimal places.
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