Justin Cement Company has had the following pattern of earnings per share over the last...
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Justin Cement Company has had the following pattern of earnings per share over the last five years: 20x1. $10.00 20x2. $11.60 20x3. $11.24 20x4. $11.91 20x5. $12.58
earning shares have grown at constant rate (round basis) and will continue. Dividends and earnings represent 40%. If the return is 13% what will be the anticipated price for 20x6?
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