Homework: Chapter 7 -HW Sa Score: 0 of 5 pts 13 of 16 (16 complete HW Score: 87.5%, 35 of 40 XP 7-21 (similar to) Question Help Haliford Corporation expects to have caming this coming year of $3.065 per share. Haliford plans to retain all of its comings for the next two years. Ther, for the subsequent two years, the firm will retain 54% of its earnings. It will retain 215 its earnings from that point orward. Each year, retained earrings will be invested in new projects with an expected rotum of 21.0 per year. Any carrings that are not retained will be paid out as dividends. Assume Halford's share contrema constant and all earnings growth comes from the investment of retained coming of Hartford's equity cost of capital is 9.5%, what price would you estimate for Halford stock? The stock price will be Round to the nearest cent)