A firm is expected to earn $$10$ per share in one year and plans to invest $60\%$ of its

earnings in new investment opportunities, paying out the remaining $40\%$ as dividends

each year. Once an investment is made, it will generate a fixed rate of return annually.

Investors believe the firm's new investments can yield a $12\%$ return per year and

require a $12\%$ expected return to invest in the firm due to the risk associated with these

cash flows. What should be the current price per share?