. Saunders Corp. has paid out a per-share dividend of $4 on its common stock for the year just ended. Analysts expect that the companys earnings and dividends per share will grow at a rate of 12% for the coming 5 years, and then begin to grow at a constant rate of 3.5% for the foreseeable future after that. The companys stock has a beta of 1.50. The proxy for the risk-free rate stands at 2.5%, and the market risk premium is estimated to be 5%. What should each share of Saunders stock be trading for today?