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Xin s Bakery expects earnings per share of $ 3 . 3 8 next year. Current book value is $ 5 . 4 0 per

Xins Bakery expects earnings per share of $3.38 next year. Current book value is $5.40 per share. The appropriate discount rate for Xins Bakery is 10 percent. Calculate the share price for Xins Bakery if earnings grow at 5.00 percent forever.

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