Haldord Corporation expects to have earings this coming year of $2.874 per share. Haliford plans to retain all of its eamings for the next two years. Then, for the subsequent two years, the firm will retain 52% of its camings. It will retain 19% of its earnings from that point onward. Each year, retained earnings will be invested in now projects with an expected return of 24.9% per year. Any earnings that are not retained will be paid out as dividends. Assume Halford's share count remains constant and all eamings growth comes from the investment of retained earnings. If Halford's equity cost of capital is 11.7%, what price would you estimate for Haliford stock? The stock price will be $(Round to the nearest cent)