Your company paid an annual dividend of $0.92. The street is predicting an 11.2% per year growth rate in earnings over the next five years. After that, your companies earnings are expected to grow at the current industry average of 5.4% per year. If the equity cost of capital is 9.1% per year and its dividend payout ratio remains constant, for what price does the DDM predict your company's stock should sell?

1. The value of your companies stock is $____________