Laurel Enterprises expects earnings next year of $3.85 per share and has a 30% retention rate, which it plans to keep coostant its equity cost of capexl is 9%. ahich a asp is expected rotum on new investment. Its eamings are expected to grow forever at a rate of 2.7% per year. If its next dividend is due in one year, what do you estirnase the flem's currert stock price to be? The current stock price will be $ (Round to the nearest cent)