AFW Industries has 185 million shares outstanding and expects earnings at the end of this year of $722 million. AFW plan

[answerhappygod]

AFW Industries has
185
million shares outstanding and expects earnings at the end of
this year of
$722
million. AFW plans to pay out
60%
of its earnings in​ total, paying
39%
as a dividend and using
21%
to repurchase shares. If​ AFW's earnings are expected to
grow by
8.4%
per year and these payout rates remain​ constant,
determine​ AFW's share price assuming an equity cost of
capital of
12.6%.