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Business, 22.08.2019 16:30 Kana81

Chittenden enterprises has 600 million shares outstanding. it expects earnings at the end of the year to be $ 970 million. the firm's equity cost of capital is 8%. chittenden pays out 30% of its earnings in total: 20% paid out as dividends and 10% used to repurchase shares. if chittenden's earnings are expected to grow at a constant 5% per year, what is chittenden's share price?

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