Hailiord Corporotion expects to have eanings this coming year of $2.651 per share. Halford plans to retain all of ts earnings for the neat two years. Then, for the subsequent two yearn, the fim will retain 51% of ts earnings. It will rotain 10% of 7 s earnings from that point onward. Each yoar, rotained eamings will be invested in new projocts with an expected rotum of 26.6% per year. Any eamings that are not retained will be paid out as dividends. Assume Hallords share count remains constant and all eamings growth comes from the investment of retained esmings. It Hatiforfis equity cost of capital is 11.4%, what price would you estmate for Halliford stock? The stock prion will be 5. (Round to the nearest cent)