Earnings per share for XYZ, Inc. grew constantly from $7.99 in 1974 to $12.68 in 1980. What was the compound annual growth rate in earnings-per-share over the period?
What will be an ideal response?
Answer: $12.68 = $7.99 FVIF[? %, 6 yr]
1.587 = FVIF[? %, 6 yr]
g = 8%
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