Your broker has recommended that you purchase stock in Beacan, Inc. Beacan recently paid its annual dividend ($16.00). The firm also boasts an ROE of 15%, of which 50% is paid as dividends. Analysts estimate that the stock has a beta of 1.28. The current risk-free rate is 2.40% and the market risk premium (RM - RF) is 7.50%. Assuming that CAPM holds, what is the intrinsic value of this stock?