7. XYZ Company's earnings per share have grown at a constant rate and will continue to do so in the future. Dividends represent 30% of earnings. Project earnings and dividends for the next year. If the required rate of return is 15%, what is the anticipated stock price at the beginning of the next year? The company has had the following pattern of earnings per share over the last three years: Year Earnings Per Share 2011 $5.41 2012 $5.63 2013 $5.86