Question: Rizzoto Deluxe Enterprises (RDE) retains 32.0 percent of its earnings to fund future growth. The company has a constant growth rate of 5.0 percent. RDE's

Rizzoto Deluxe Enterprises (RDE) retains 32.0 percent of its earnings to

Rizzoto Deluxe Enterprises (RDE) retains 32.0 percent of its earnings to fund future growth. The company has a constant growth rate of 5.0 percent. RDE's expected Earnings Per Share at the end of the year (i.e. at t=1 ) and required cost of capital for various capital structures are given in the table below. Using the constant dividend growth model, what is the highest stock price amongst these different capital structures of RDE ? (Give answer to 2 decimal places)

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