If you require a rate of return of 9 how much are you, Financial Management

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If you require a rate of return of 9 how much are you

Leront's, Inc. had earnings per share of 5.25. The company announced that it plows back 60% of its earnings into projects returning 12%.

If you require a rate of return of 9%, how much are you willing to pay today to purchase one share of Leront's stock?

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