Problem 6-29 Residual Income Model (LO3, CFA9) 10 points Beagle Beauties engages in the development, manufacture, and sale of a line of cosmetics designed to make your dog look glamorous. Below you will find selected information necessary to compute some valuation estimates for the firm. Assume the values provided are from year-end 2015. Also assume that the firm's equity beta is 140, the risk-free rate is 2.35 percent, and the market risk premium is 6.7 percent. Dividends per share Return on equity book value per share 11.500 $17.65 2015 value per share Average price multiple Forecasted growth rate Earnings Cash Flow $5.80 $7.00 13.90 9.66 Sales $26.05 2.68 The required return is 1173 percent. Use the clean surplus relationship to calculate the share price for Beagle Beauties with the residual income model. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Share price