Score: 0 of 1 pt 6 of 8 (6 complete) HW Score: 75%, 6 of 8 pts P7-20 (similar to) Question Help tact Assume Highline Company has just paid an annual dividend of $1.07. Analysts are predicting an 11.8% per year growth rate in earnings over the next five years. After then, Highline's earnings are expected to grow at the current industry average of 5.6% per year. If Highline's equity cost of capital is 9.3% per year and its dividend payout ratio remains constant, for what price does the dividend-discount model predict Highline stock should sell? The value of Highline's stock is $ (Round to the nearest cent)