XP 7-15 (similar to) Question Help Laurel Enterprises expects earnings next year of $4.37 per share and has a 30% retention rate, which it plans to keep constant. Its equity cost of capital is 11%, which is also its expected return on new investment. Its earnings are expected to grow forever at a rate of 3 3% per year. If its next dividend is due in one year, what do you estimate the firm's current stock price to be? The current stock price will be $ (Round to the nearest cent) red Cha -reld -cord oom Enter your answer in the answer box and then click Check Answer Clear A All parts showing Desktop O RI SS -arch