Assume Highline Company has just paid an annual dividend of $1.01. Analysts are predicting an 10.9% 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 5.5% per year. If Highline's equity cost of capital is 7.7% per year and its dividend payout ratio remains constant, for what price does the dividend-discount model predict Highline stock should sell? The value of Highline's stock is $ (Round to the nearest cent.)

Assuma Highine Company has just paid an annual divdend of $1.01. Anslysts ove pendcting an 10.9% per year growte rate in oamings over the next five years. Afler then, Highline's earnings are expected lo grow at the cument industy amerage of 55% per yew. If Highine's equity cost of captal is 7.7% per year and its dividend payout ratio remains constant, for what price does the dividend-dicount model prodict Highlina Hock should sell? The valus of Highine's sock is : (Round to the nearest cent) Assuma Highine Company has just paid an annual divdend of $1.01. Anslysts ove pendcting an 10.9% per year growte rate in oamings over the next five years. Afler then, Highline's earnings are expected lo grow at the cument industy amerage of 55% per yew. If Highine's equity cost of captal is 7.7% per year and its dividend payout ratio remains constant, for what price does the dividend-dicount model prodict Highlina Hock should sell? The valus of Highine's sock is : (Round to the nearest cent)