Defenestration Industries plans to pay a $$4\mathrm{.}00$ dividend this year and you expect that the firm's earnings are on track to grow at $6\%$ per year for the foreseeable future. Defenestration's equity cost of capital is $14\%.$

b$.$ Suppose that Defenestration decides to pay a dividend of only $$2$ per share this year and use the remaining $$2$ per share to repurchase stock. If Defenestration's payout rate remains constant, then what is Defenestration's stock price?