levver inc earned $3.20 per share in 2019 and pay dividends of $1.85 per share analyst forecast an annual earnings growth rate of 6.70% for the next five years based on similar risk companies that estimate required rate of return on the stock is 7.60% it is assumed that after 2024 onward the company will maintain its current reinvestment rate but earn only its cost of capital on new investments

estimate the current price at the beginning of 2020