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Haliford Corporation expects to have camings this coming year of $2.986 per share. Haliford plans to retain all of its eamings for the next two years. Then, for the subsequent two years, the firm will retain 46% of its earnings. It will retain 22% of its earnings from that point onward. Each year, retained earnings will be invested in new projects with an expected return of 23.8% per year. Any camings that are not retained will be paid out as dividends. Assume Halliford's share count remains constant and all earings growth comes from the investment of retained earnings. If Hallford's equity cost of capital is 9.3%, what price would you estimate for Haliford stock? GED The stock price will be s (Round to the nearest cent)