Nelly Enterprises will have earnings per share of $3.5 for the coming year. Nelly plans to retain all its earnings for the next four years. For the subsequent three years, the firm plans on retaining 50% of its earnings .Retained earnings will be invested in projects with expected return of 15% per year for the first seven years. It will then retain only 25% of its earnings for the next three years and retained earnings will be invested in projects with an expected return of 20% per year. After that Nelly will retain only 15% of its earnings from that point forward. Retained earnings will be invested in projects with an expected return of 12% per year. If Nelly's equity cost of capital is 10%, then what is the price of a share of Nelly's stock?