Determine afws share price assuming an equity cost of


AFW Industries has 191 million shares outstanding and expects earnings at the end of this year of $715 million. AFW plans to pay out 65% of its earnings in? total, paying 38% as a dividend and using 27% to repurchase shares. If? AFW's earnings are expected to grow by 7.8% per year and these payout rates remain? constant, determine? AFW's share price assuming an equity cost of capital of 11.9%.

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Financial Management: Determine afws share price assuming an equity cost of
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