Question: A firm has expected growth: 5%, expected ROE: 15%, expected profit margin: 3%, and a potential payout ratio: 25%. The company's beta is 1.15 .

 A firm has expected growth: 5%, expected ROE: 15%, expected profit

A firm has expected growth: 5%, expected ROE: 15%, expected profit margin: 3%, and a potential payout ratio: 25%. The company's beta is 1.15 . The 10 -year Treasury Rate is 2% and the expected return on the S\&P 500 is 7%. What is the forward price to earnings multiple (rounded to two decimals)

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