You are trying to value the stock of XYZ Corp. Total earnings for year 1 are forecastedto be $185 million.You know that the company plans on paying out 20%of its earnings in the form of dividends and 22% in the form of share repurchases each year, and that all of the growth in future earnings will be through retained earnings. The company's return on new investment is 15%, its cost of equity is 12% and it has 88 million shares outstanding. Given this information, estimate the current share price for XYZ Corp. Round your answer to two decimals(do not include the $-symbol in your answer).

Question 3 5 points Save Answer You are twins; to value the stock of XYZ Corp. Total earnings for year 1 are forecasted to be $185 million. You know that the company plans on paving out 20% of its earnings in the form of dividends and 22% in the form of share repurchases each year. and that all of the growth in future earnings will be through retained earnings. The companv's return on new investment is 15%. its cost of equitv is 12% and it has 88 million shares outstanding. Given this information, estimate the current share price for XYZ Corp. Round your answer to two decimals (do not include the $symbol in your answer)