Question: PROBLEM 3: Use the information for the questions 4. The average ROE for Lever, Inc. over the last business cycle was 32%. Lever's earnings per

PROBLEM 3: Use the information for the questions 4.

The average ROE for Lever, Inc. over the last business cycle was 32%. Lever's earnings per share for 2016 is expected to be $5. The dividend payout ratio is 30%, and the current book value per share is $14. Shares are trading in the market at $54.

Question 4

Levers normalized earnings per share is ____.

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