The Digital Electronic Quotation System (DEQS) Corporation pays no cash dividends currently and is not expected to for the next five years. Its latest EPS was $13.00, all of which was reinvested in the company. The firm's expected ROE for the next five years is 17% per year, and during this time it is expected to continue to reinvest all of its earnings. Starting in year 6 , the firm's ROE on new investments is expected to fall to 12%, and the company is expected to start paying out 35% of its earnings in cash dividends, which it will continue to do forever after. DEQS's market capitalization rate is 20% per year. a. What is your estimate of DEQS's intrinsic value per share? (Do not round intermediate calculations. Round your answer to 2 decimal places.)