Assume Highline Company has just paid an annual dividend of $1.08. Analysts are predicting an 11.8% 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 7.8% per year and its dividend payout ratio remains constant, for what price does the dividend-discount model predict Highline stock should sell? BE The value of Highline's stock is (Round to the nearest cent.)