Halliford Corporation expects to have earnings this coming year of $3.126 per share. Halliford plans to retain all of it

[answerhappygod]

Halliford Corporation expects to have earnings this coming year
of
$3.126
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
45%
of its earnings. It will retain
19%
of its earnings from that point onward. Each​ year,
retained earnings will be invested in new projects with an expected
return of
26.3%
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
11.1%​,
what price would you estimate for Halliford​ stock?