Assume Highline Company has just paid an annual dividend of

$0.91.

Analysts are predicting an

11.5%

per year growth rate in earnings over the next five years. After then, Highline's earnings are expected to grow at the current industry average of

4.8%

per year. If Highline's equity cost of capital is

9.1%

per year and its dividend payout ratio remains constant, for what price does the dividend-discount model predict Highline stock should sell?