A company's latest earnings are $2/share. EPS is expected to grow at a 20% rate for 4 years, at a 12% for the next 4 years and at 6% thereafter. The payout ratio is expected to be 25% the first 4 years, 40% the next 4 years, and 50% thereafter. If your required rate of return is 14%, what will you pay for this company's stock? [$21.12]