Cache Creek Manufacturing Company is expected to pay a dividend of $4.20 in the upcoming year. Dividends are expected to grow at the rate of 4.4% per year. The risk-free rate of return is 3.9%, and the expected return on the market portfolio is 15%. Investors use the CAPM to compute the market capitalization rate on the stock and use the constant-growth DDM to determine the intrinsic value of the stock. The stock is trading in the market today at ------------------

Please provide answer in 4 decimal place