An analyst's report on Derjet Industries has provided the following corporate information:Total assets $100,000,000Total equity $50,000,000Net income $12,500,000Earnings per share $3.50P/E ratio 2.2Dividend growth rate 1.65%Assuming an investor has a required rate of return of 15%, calculate the maximum price that should be paid for this stock in the secondary market.

Answer rating: 100% (QA)

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