What is aarons share price

Reference no: EM13283500

Aaron Inc. has 316 million shares outstanding. It expects earnings at the end of the year to be $602 million. The firm's equity cost of capital is 11.5%. Aaron pays out 50% of its earnings in total: 30% paid out as dividends and 20% used to repurchase shares. If Aaron's earnings are expected to grow at a constant 6% per year, what is Aaron's share price?

Reference no: EM13283500

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