Constant dividend growth model. Alpha Simplex Inc. Corp. has a future estimated EPS of $1.60 next year. Alpha Simplex Inc. pays out 50% of all future earnings as dividends. The dividends and earnings are expected to grow at a constant rate of 2% in the future. You require a 9% rate of return on stock investments of similar risk. What is your estimate of the intrinsic value one share of Alpha Simplex Inc. stock (Po)