Calculate the Present Value of Growth Opportunities $($PVGO$)$

Medtronic is expected to earn $$8\mathrm{.}02$ next year. The company has a discount rate of $13\%$ and is able to reinvest its earnings at an ROE of $16\%.$ Currently, the company pays out all earnings in the form of a dividend. How much could they boost their stock price if they lowered their payout ratio to $33\%?$