JBJ has a consistent record in terms of both return on equity and growth. At...
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JBJ has a consistent record in terms of both return on equity and growth. At year-end 2007, JBJ had a book value of $30 per share. For the foreseeable future, the company is expected to achieve a ROE of 15 percent (on trailing book value) and to pay out one-third of its earnings in dividends. The required return is 12 percent. What is JBFs beginning book value per share in 2009?
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