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Rzqust [24]
3 years ago
15

The newspaper reported last week that Bennington Enterprises earned $34.08 million this year. The report also stated that the fi

rm’s return on equity is 17 percent. The firm retains 75 percent of its earnings. What is the firm's earnings growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) What will next year's earnings be? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.)
Business
1 answer:
sweet-ann [11.9K]3 years ago
5 0

Answer:

Consider the following calculation.

Explanation:

Sustainable growth rate =(Retention rate*Return on equity)

=(0.75*0.17)=.1275

=12.75%

Next year earnings =$34.08 million *112.75%

=$38.4252 million

=$384,25,200 .

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