Show in Excel. Today, Bill Williamson Corp. announced that it has just earned $5 per share for the current year and it has just paid out 0% of its earnings as dividends and reinvested its remaining earnings in projects earning a return of 35% per year. It will continue these policies through six years from today. Seven years from today, Williamson expects to start paying out 75% of its earnings as the return on new projects it invests in to fall to 3% per year. These policies will continue forever. Calculate the price of Williamson stock today if Williamsons equity cost of capital equals 8.5% per year. Note: Earnings occur annually, and dividends are paid annually. Williamsons next earnings will occur one year from today and its next dividend (were it paying dividends of more than 0% of earnings) would also occur one year from today.