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AEye Inc., is a software developer specialized in AI-assisted medical imaging and diagnostic devices and is in its early growth phase. Today is Dec. 31,

AEye Inc., is a software developer specialized in AI-assisted medical imaging and diagnostic devices and is in its early growth phase. Today is Dec. 31, 1990, and the firms earnings are expected to grow at a rate of 10% for the next 10 years until the end of 2000. From 2001 on, AEyes growth will be at a rate of 3% per year forever. Assume that all earnings are distributed through dividends at the end of each year, and the firm has just paid an annual dividend of $4 per share for 1990. What will be the price of AEye stock if investors require 15% return?

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