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Last year Kendall Enterprises (KE) had earnings per share of $5 and dividends per share of $2. Total retained

earnings increased by $12 million during the year, while book value per share at year-end was $40. KE has no preferred stock, and no new common stock was issued during the year. If its year-end total debt was $120 million, what was the company's year-end # of shares outstanding?

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As the EPS = $5; and DPS = $2 which means Addition to retained earnings is $3... View the full answer

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