please excel and show steps. Thank you.

You are trying to value the stock of ABC Corp. Total earnings for year 1 are forecasted to be $237 million and they will grow at a rate of 1% annually. You know that the company plans on paying out 34% of its earnings in the form of dividends and 36% in the form of share repurchases each year, and that all of the growth in future earnings will be through retained earnings. The company's cost of equity is 12.2% and it has 75 million shares outstanding. Given this information, estimate the current share price for ABC Corp. Round your answer to two decimals (do not include the $-symbol in your answer). Selected Answer: 158 Correct Answer: 19.75 +0.5