D Question 1 5 pts Carl Corp. has 136 million shares outstanding and expects earnings of $660 million at the end of this year (1 year from today). It plans to pay out 56% of earnings in total in the future (half of that as a dividend and half to repurchase shares). Carl's earnings are expected to grow by 5% per year indefinitely. Carl's stock price, assuming an equity cost of capital of 12%, is $ per share. Margin of error for correct responses: +/- $.05. Rounding and Formatting instructions: Do not enter dollar signs or commas in your response. Do not round any intermediate work, but round your *final* response to 2 decimal places (example: if your answer is $12.34567, you should enter 12.35)