Halliford Corporation expects to have earnings this coming year of $3.142 per share. Halliford plans to retain all of it

[answerhappygod]

Halliford Corporation expects to have earnings this coming year
of $3.142 per share. Halliford plans to retain all of its earnings
for the next two years.​ Then, for the subsequent
two​ years, the firm will retain
50% of its earnings. It will retain 22% of its earnings from
that point onward. Each​ year, retained earnings will be
invested in new projects with an expected return of
19.6% per year. Any earnings that are not retained will be paid
out as dividends. Assume​ Halliford's share count remains
constant and all earnings growth comes from the investment of
retained earnings. If​ Halliford's equity cost of capital
is
10.7%​, what price would you estimate for
Halliford​ stock?