15. Hallmark Inc. has earnings per share of $2.10, $2.65, $3.03 and $3.22 for the next four years. The company believes that the income will grow by a constant 4% after year four. Hallmark Inc. also has a current ratio of 1.08 and net fixed assets totaling $3.2 million. Hallmark Inc. has a retention ratio of 45%, discount rate of 7% and is in the 35% tax bracket. What is the value of Hallmark Inc.?