Hardy Enterprises expects thisyear's earnings of $4.31 per share and has a 50% retentionrate, which it plans to keep constant. Its equity cost of capital is 9%, which is also its expected return on new investment. Its earnings are expected to grow forever at a rate of 4.5% per year. If its next dividend is due in oneyear, what do you estimate thefirm's current share price tobe?