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WhitmoreInc. just reported earnings of $3.5 million.It plans to retain 30% of its earnings and payout the rest in the form of a dividend.The historical

WhitmoreInc. just reported earnings of $3.5 million.It plans to retain 30% of its earnings and payout the rest in the form of a dividend.The historical ROE for the firm is 8%, a figure that is expected to continue for the foreseeable future. Calculate the projected earnings one year from today.(Round to 2 decimals)

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