Scotiabank expects to have earnings this coming year of $3 per share. The bank plans to retain all of its earnings for the next two years. Then, for the subsequent two years, the firm will retain 50% of the earnings. It will retain 20% of its earnings from that point onward. Each year, retained earnings will be invested in new projects with an expected return of 25% per year. Any earnings that are not retained will be paid out as dividends. Assume ScotiaBank share count remains constant and all earnings growth comes from the investment of retained earnings. If ScotiaBank cost of capital is 10%, what price would you estimate for its stock?