9. Boston Harbor Pirate Tours (BHPT) had earnings last year of $12 per share and earnings are expected to grow at 25% for the first few years. BHPT plans to pay a dividend of $7 at the end of the Year 6 (they do not expect to pay dividends in years 1-5) after which the growth is expected to slow to 12%. After Year 6, the dividend payout ratio and the growth rate are expected to remain unchanged. If BHPT's equity cost of capital is 18%, whta should the price of BHPT's stock be today? (round to the nearest cent)