Flex Co. just paid total dividends of $1,100,000 and reported additions to retained earnings of $3,300,000. The company has 725,000 shares of stock outstanding and a benchmark PE of 17.4 times. What stock price would you consider appropriate?
a. $95.04
b. $79.20
c. $105.60
d. $26.40
e. $100.32
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