I need part 4. part 1/2 are right but part 3 was wrong

-CMTronic has current earnings per share of $1.53, a stock price of $49.38, a return on equity of 7% and a beta of 1.7.

The risk-free rate is 4% and the expected market risk premium is 4.5%.

part 1: What is the required rate of return for the company according to the CAPM?

part 2: What growth rate of earnings (and dividends) is consistent with the company's return on equity and its policy of reinvesting 20% of earnings?

part 3: What is the fair stock price using the constant-growth dividend model?

part 4: What growth rate of earnings is implied by the current stock price of $49.38?