If a $24 per share stock has a P/E ratio of 16 and pays out 40 percent

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If a $24 per share stock has a P/E ratio of 16 and pays out 40 percent of its profits in dividends,

(a) How much profit is it earning per share?

(b) How large is its dividend?

(c) What is the implied rate of cash return?

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Shameen Tahir

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