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AFW Industries has 178 million shares outstanding and expects earnings at the end of this year...

AFW Industries has 178 million shares outstanding and expects earnings at the end of this year of $703 million. AFW plans to pay out 63% of its earnings in​ total, paying 36% as a dividend and using 27% to repurchase shares. If​ AFW's earnings are expected to grow by 8.6% per year and these payout rates remain​ constant, determine​ AFW's share price assuming an equity cost of capital of 12.5%.

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