Halliford Corporation expects to have eamings this coming year of \\( \\$ 2.65 \\) per share. Hailford plans to retain all of its earnings for the next two years. For the subsoquent two years, the firm will retain \53 of its earnings. It will then retain \17 of its eamings from that point onward. Each year, retained earnings will be invested in new projects with an expected retum of \27.51 par year. Any eamings that are not retained will be paid out as dividends. Assume Hallifort's share count remains constant and all eamings growth comes from the investment of retained eamings. If Halifords equity cost of capital is \8.3, what price would you estimate for Halliford stock? Note: Remenber that growth rate is compuled as: retention rate \\( x \\) rate of return. The price per share is \\( \\mathbf{S} \\) (Round to the nearest cent)