19. (10 pts) Doolittle Co. is expected to pay a dividend of $2.1 next year. Doolittle is expected to pay 30% of its earnings as dividends and will have an ROE of 8% until the fourth year. After that, its ROE is expected to decrease to 2.4% and the dividend payout ratio will increase to 40%. Applying the cost of equity of 10.6% and the supernormal growth model, compute the intrinsic price of Doolittle