ABC Grain expects to have earnings of $3.50 per share during the fiscal year ending in 1 year on February 12, 2017. The firm currently plans to retain 80 percent of earnings at the end of each of the next three fiscal years (ending on February 12, 2017, 2018 and 2019). During this three-year period, the chief financial officer projects that the rate of return on equity (ROE) for the firms new investments will be 25 percent. During the fiscal year ending on February 12, 2020, the firm plans to respond to a decline in the ROE for new investments to 15 percent by reducing the retention rate to 40 percent. The CFO is confident that the firm will be able to maintain this reduced payout ratio and ROE on new investment forever. Assuming the firm's cost of equity capital is 11 percent, determine the current stock price for ABC Grain.