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What is the value of stock now

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Nationwide Bakery Co. (NBC) just announced that its earnings per share in 2017 was $5.00. The firms' earnings have grown 6% a year and the firm expects the same growth rate for the foreseeable future. The current book value of the stock is $8.00 a share. NBC has not paid dividends yet and the firm has no plan to pay dividends soon. What is the value of stock now, if shareholders require a 12% annual return?

Reference no: EM131898321

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