The Collaborative International Dictionary of English v.0.48:

Emulable \Em"u*la*ble\, a. [L. aemulari to emulate + -able.]
   Capable of being emulated. [R.]
   [1913 Webster]

         Some imitable and emulable good.         --Abp.
                                                  Leighton.
   [1913 Webster]