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Lilan Manufacturing has projected sales of $ 1 3 8 million next year. Costs are expected to be $ 7 7 million, net investment is

Lilan Manufacturing has projected sales of $138 million next year. Costs are expected to be $77 million, net investment is expected to be $11 million. Each of these values is expected to grow at 14% the following year, with the growth rate declining by 2% per year until the growth rate reaches 6%, where it is expected to remain indefinitely. There are 6.2 million shares outstanding, and investors require a return of 12% on the company's stock. The corporate tax rate is 21%. What is your estimate of stock price? (15 pts)

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