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What was the residual earnings

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Question 1: A company with no interest expense or interest income reports an ROA of 12.5% and leverage of 1.75. The company's average shareholders' equity is $315,000 and its cost of equity capital is 7.7%. If the company began the year with book value per share of $3.00 (i.e. 100,000 shares of common stock issued and outstanding) what was its residual earnings?

Reference no: EM132498678

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