Eclipse Mints stock is expected to pay a dividend of $0.50 next year, $0.70 in the following year, $1.30 per year from year 3 to year 6, and $1.80 each year thereafter. Eclipse Mints is 25% more risky than the market as a whole. Return on market is 11% and risk free rate is 4%. If the current price of Eclipse is $12. What is the price of the stock? What is the present value of annuity and perpetuity in year 0?