Halliford Corporation expects to have earnings this coming year of S3.049 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 48% of its earnings. It will retain 17% of its earnings from that point onward. Each year, retained earnings will be invested in new projects with an expected re um 0124 5% per year Any earnings that are not retained be paid out as dvidends. As m Haliford's s a count remains stock? constant and all earnings growth comes from the investment of retained earnings if Halliford's equity cost of capital is 9 4%, what price would you estimate for Halliford The stock price will be S(Round to the nearest cent)