Suppose we are evaluating Gibraltar Industries, Inc. (ROCK). In our analysis, we find that ROCK currently pays no dividends, so we conclude that we cannot use a dividend discount model. Thus, we decide to calculate a value using a residual income model, for which we collected the following data:

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Share Information EPS Dividends Book value per share, Bo Dec 31, 2021 (Time 0) $2.30 $0 $25.24