Question: A firm expects next year's EPS to be $2.52. It has a retention ratio of 0.3, and it will pay out the remainder of earnings

A firm expects next year's EPS to be $2.52. It has a retention ratio of 0.3, and it will pay out the remainder of earnings as dividends. The firm will invest all retained cash in new projects that are expected to return 14% and the stock's required rate of return is 13.2%. What is the present value of growth opportunities per share? Round your answer to the nearest penny.

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