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Your firm is expected to earn $1.51/share next year and has a cost of capital of 16.3%. Assume these earnings resemble a perpetuity with growth

Your firm is expected to earn $1.51/share next year and has a cost of capital of 16.3%. Assume these earnings resemble a perpetuity with growth rate 5.8%. What is its price/earnings ratio? Solve problem with exact answer and answers should be to four decimal places no rounding.

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