Question: help, keeps telling me my answer is wrong. Need help finding true answer AFW Industries has 178 million shares outstanding and expects earnings at the
AFW Industries has 178 million shares outstanding and expects earnings at the end of this year of $715 million. AFW plans to pay out 60% of its earnings in total, paying 38% as a dividend and using 22% to repurchase shares. If AFW's earnings are expected to grow by 7.3% per year and these payout rates remain constant, determine AFW's share price assuming an equity cost of capital of 11.5%. The price per share will be $ (Round to the nearest cent.)
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