Assume Highline Company has just paid an annual dividend of $ 0.98. 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 4.9 % per year. If Highline's equity cost of capital is 8.6 % 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 ?