You bought 290 shares of Bears, Inc. for $6.30 per share 15 years ago.   Today, it has 200mm shares authorized, 50mm shares issued and 10mm in treasury shares.  The market value of the equity today is $800mm.  It has never paid dividends.   Assume a tax rate of 20%.   What is the CAGR regarding the appreciation of your investment?   Round to the nearest % and use the % symbol.   Hint...3% would be the form of a correct answer)

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter14: Capital Structure Management In Practice
Section: Chapter Questions
Problem 9P
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You bought 290 shares of Bears, Inc. for $6.30 per share 15 years ago.   Today, it has 200mm shares authorized, 50mm shares issued and 10mm in treasury shares.  The market value of the equity today is $800mm.  It has never paid dividends.   Assume a tax rate of 20%.   What is the CAGR regarding the appreciation of your investment?   Round to the nearest % and use the % symbol.   Hint...3% would be the form of a correct answer)

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