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You calculated a P/E ratio for NJC Stock to be 8. Using the same growth rate of 12% and current stock price $20 per share,

You calculated a P/E ratio for NJC Stock to be 8. Using the same growth rate of 12% and current stock price $20 per share, and an earnings per share of $2.50, find the average growth of NJC Stock over a 4-year period. (round each years price to the nearest cent)

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