Yоu аre vаluing Sleet оf Mоtors. The compаny's current required return on equity is 14%; its most recently reported earnings per share was $6 and currently pays out 20% of its earnings as a dividend with earnings projected to grow at 8% per year. In year 5, the company will increase its payout to 40% and use that going forward thereafter. At this point, the market also deems the company less risky, and its discount rate falls to 12%. What is your estimated stock price based upon this data? Format: round to the nearest cent and format like these examples: $XX.XX or $X.XX with no leading 0's with the $.