Assume Highline Company has just paid an annual dividend of $0.95 . Analysts are predicting an 11.1% 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 5.6% per year. If Highline's equity cost of capital is 8.2% per year and its dividend payout ratio remains constant,

for what price does the dividend-discount model predict Highline stock should sell?