Question: Baylor Stock's next annual EPS ( EPS 1 ) will be $ 2 . 0 7 , new projects have expected return of 1 2

Baylor Stock's next annual EPS (EPS1) will be $2.07, new projects have expected return of 12%, and investors require a rate of return is 12.3%. If Baylor's retention rate is 0.2. what is the present value of the firm's growth opportunities? Round your answer to the nearest penny.

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