Low Fly Airline is expected to pay a dividend of $2.60 in th…

Low Fly Airline is expected to pay a dividend of $2.60 in the coming year. Dividends are expected to grow at the rate of 12% per year. The risk-free rate of return is 3%, and the expected return on the market portfolio is 11%. The stock of Low Fly Airline has a beta of 1.8. The intrinsic value of the stock is: