Laurel Entorprisos expects eamings next yoar of $4.07 per share and has a 30% retention rate, which it plans to keop constant its equity cost of capital is 9%, which is also its expected retum on new investment its earnings are expected to grow forever at a rate of 2.7% per yeat. If its next dividend is due in one yoac, what do you estimate the firm's current stock prith to be? The current stock price wit be 1 (Rhound to the neavest cent)