Rosen Fashions common stock recently paid a dividend of $2.75. Investors require a 18% rate of return on this stock. Rosen earns a 30% return on equity. The firm pays 55% of its earnings as dividends, and reinvests 45% of earnings in the firm. What is the value of the stock?

Answer is 69$

I know that the formula is d1/ required- growth and growth= roe x retention rate, not sure why i am getting the problem wrong