Assume Purple Frog Company has just paid an annual dividend of $1.00. Analysts are predicting a growth rate of 40 percent for each of the next two years, This growth is then anticipated to slow to 15 percent per year for the following two years. After then, Purple Frog's earnings are expected to grow at the current industry average of 4.4% per year. If Purple Frog's equity cost of capital is 9.2% per year and its dividend payout ratio remains constant, for what price does the dividend-discount model predict Purple Frogs stock should sell