Hallito Comporation expects to have earnings tus coming year of S2 996 per shume Hallford plans to retain wil of its earrings for the next two year. Then, for the subsequent two year, the tim will retain 51% of its earning it will retaun 17% of its coming from that point onward. Each your retained wings will be invested in new projects with an expected retum of 21.1% per year. Any earings that we not retained will be paid out as dividends Assume Haliford's share count remains constant and all earings growth comes from the investment of retained namings If Haliford's equity cost of capital is 10.3%, what pnce would you estimate for Haliford stock? The stock price will be $ (Round to the nearest cent.)