Question: Hello! I'm having trouble with this practice questions. Any help is greatly appreciated. AFW Industries has 207 million shares outstanding and expects earnings at the

Hello! I'm having trouble with this practice questions. Any help is greatly appreciated.

Hello! I'm having trouble with this practice questions. Any help is greatly

AFW Industries has 207 million shares outstanding and expects earnings at the end of this year of $711 million. AFW plans to pay out 64% of its earnings in total, paying 36% as a dividend and using 28% to repurchase shares. If AFW's earnings are expected to grow by 7.6% per year and these payout rates remain constant, determine AFW's share price assuming an equity cost of capital of 12.1%. The price per share will be $ (Round to the nearest cent.)

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