Assume Highline company has just paid an annual dividend of $0.94. Analysts are predicting an 11.9% per year growth rate in earnings over the next five years. after then highlines earnings are expected to grow at the current industry average of 5.5% per year. if Highline equity cost of capital is 9.4% per year and it's 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 ?

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