Assume a major investment service has just given Big Lake Realty its highest investment rating, along with a strong buy recommendation. As a result, you decide to take a look for yourself and to place a value on the company's stock. Here's what you find: This year. Big Lake paid its stockholders an annual dividend of $4.39 a share, but because of its high rate of growth in earnings, its dividends are expected to grow at the rate of 8% a year for the next five years and then to level out at 6% a year. So far, you've learned that the stock has a beta of 1.32, the risk-free rate of retum is 3.8%, and the expected return on the market is 10.2%. Using the CAPM to find the required rate of return. put a value on this stock. Using the CAPM, the required rate of return on the investment is places.) %. (Round to two decimal The value of the company's stock is $ (Round to the nearest cent.)