A friend tells you that you should buy AST Company stock as it is a "great deal." It is January 1, 2020 and the stock is trading at $25 per share. You obtain the financial statements for Leclerc and determine the following:

- Book value is $12 per share as of December 31, 2019.

- Earnings for 2019 were $4.0 per share.

- Earnings are expected to grow at 20% for the next four years.

- Dividend payout is 40%.

- Residual income is expected to be zero from 2021 onwards.

- Cost of equity capital is 15%.

Determine, using the residual income method, whether you should buy AST stock as of January 1, 2020.