X-Ray Inc. recently paid its annual dividend of $4.80, and reported an ROE of 5%. The firm pays out 50% of earnings as dividends. Based on your analysis, you estimate that the stock has a required...

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Extracted text: X-Ray Inc. recently paid its annual dividend of $4.80, and reported an ROE of 5%. The firm pays out 50% of earnings as dividends. Based on your analysis, you estimate that the stock has a required return of 7%. What is the intrinsic value of this stock? DO NOT ENTER THE $ SIGN. ALSO, ENTER YOUR ANSWER AS A POSITIVE NUMBER. SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO TWO DECIMAL PLACES AT THE END, i.e. IF YOUR ANSWER IS 33.4348 ENTER IT AS 33.48 ONLY