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Problem -09 You are waing bank. The bank currently has assets of $315 per share. Five years from now that is at the end of

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Problem -09 You are waing bank. The bank currently has assets of $315 per share. Five years from now that is at the end of five years you expect the assets per Share to be $500. After Year 5. you expect their assets pershere to grow at 3.25 percent per year forever. The bank has an ROA of 1.4 percent and an ROE of 11.0 percent. The bank's cost of equity is 10.5 percent. What is the value of the bank's stock? Use the free ashow to equity model to value this stock. Do not round intermediate calculations. Round your answer to the nearest cent 5

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