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HarborTech Industries has 124 million shares outstanding, and analysts project t...
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HarborTech Industries has 124 million shares outstanding, and analysts project that the firm will earn $550 million at the end of this year (12 months from today). The CFO has recently stated that the company will distribute 40% of its earnings as dividends and allocate an additional 20% toward share repurchases. If HarborTech’s equity cost of capital is 16% and its earnings are expected to grow at 4% annually, then the estimated value of one share of HarborTech stock is closest to:
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