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Xin's Bakery has current earnings per share of $2.56. Current book value is $4.70 per share. The appropriate discount rate for Xin's Bakery is 11

image text in transcribed Xin's Bakery has current earnings per share of $2.56. Current book value is $4.70 per share. The appropriate discount rate for Xin's Bakery is 11 percent. Calculate the share price for Xin's Bakery if earnings grow at 3 percent forever. Note: Do not round intermediate calculations. Round your answer to 2 decimal places

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