As a research analyst for a major investment bank, it is your job to determine  the one-year target price of the stocks you cover. Based on your calculations,  you are to determine what the price of a stock should be one year from  today. As you study Home Depot, you notice it paid a dividend of $1.50 per share yesterday. You expect Home Depot's dividends to grow at a rate of 20  percent for the next three years, and then to settle down to a long-term  growth rate of 5% for the foreseeable future.

If investors require an 11%  return for owning shares of Home Depot, What should the stock price be a year from now?