15-3 Jansken Co. has an ROE = .12 and a beta of 1.10. It plans to maintain indefinitely its traditional retention ratio of 0.65. This years earnings were $2.50 per share. This years dividend was just paid. The consensus estimate of the coming years market return is 10%, and T-bills currently offer 5% return. Find the price at which Jansken should sell using the DDM.