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Calculate the share price for bill bakery

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Bill's Bakery expects earnings per share of $2.18 next year. Current book value is $3.9 per share. The appropriate discount rate for Bill's Bakery is 13 percent. Calculate the share price for Bill's Bakery if earnings grow at 4 percent forever. (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)

Answer is not 24.22, 16.77, or 9.99. These are all my previous attempts.

Reference no: EM131318350

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