Halliford Corporation expects to have earnings this coming year of $3.144 per share. Halliford plans to retain all of its earnings for the next two years. Then, for the subsequent two years, the firm will retain 53% of its earings. It will retain 21% of its earings from that point onward. Each year, retained eamings will be invested in new projects with an expected return of 22.8% per year. Any earnings hat are not retained will be paid out a di en s. Assume Hali Ord's share count remains constant and all earnings growth comes from the investment of retained eamings. If Halliford's equity cost of capital is 11.1%, what price would you estimate for Halliford stock? The stock price willbe (Round to the nearest cent) (Round to the nearest cent.)