What is the price of the stock with growth

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Fortress of Solitude Co. expects an earnings per share of $1.37 and reinvests 30% of its earnings. Management projects a rate of return of 13% on new projects and investors expect a 7% rate of return on the stock. Given a growth rate of 3.9%, what is the price of the stock with growth?

Enter your response below rounded to 2 DECIMAL PLACES.

Reference no: EM132466556

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