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P 7-15 (similar to) Question Help Laurel Enterprises expects earnings next year of S4 07 per share and has a 50% retention rate, which is plans to keep constant Its equity cost of capita 11% which is also its expected return on new investment. Its earnings are expected to grow forever at a rate of 5.5% per year. It is next dividend is die in one year what do you estimate the firm's current stock price to be? The current stock price will be $|| (Round to the nearest cent)
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