7) Consider the following information which relates to a given company: Item 2019 Value Earnings Per Share $6.88 Price Per Share (Common Stock) $37.25 Book Value (Common Stock Equity) $63.31 Million Total Common Stock Outstanding 2.5 Million Dividend Per Share $5.75 Analysts expect that the company could maintain a constant annual growth rate in dividends per share of 6.34% in the future, or possibly 8.39% for the next 2 years and 6.89% thereafter. In addition, it is expected that the risk of the firm, as measured by the risk premium on its stock, to increase immediately from 8.26% to 12.91%. Currently, the risk-free rate is 5.1%. Required: Assuming a constant annual 8.39% growth rate in dividends per share over the next two years and 6.89% thereafter, find the value per share of the firm's stock. The required return is 16.54%.