You have gathered the following information:

Cost of equity	10%
Current book value of equity per share	10
Expected earnings per share in one year	1.1
Residual income growth rate after one year, remaing constant afterwards in perpetuity	5%

Using the information in the table, estimate this companys share price.

		Between 1 and 5
		Between 5 and 10
		Between 10 and 15
		Between 15 and 20
		More than 20