Laurel Enterprises expects earnings next year of $3.99 per share and has a 40% retention rate, which it plans to keep constant. lits equity cost of capital is 11% , which is also its expected return on new investment. Its earnings are expected to grow forever at a rate of 4.4% per year. If is next dividend is due in one year, what do you estimate the firm's current stock price to be? The ourrent stock price will be 4 (Round to the nearest cont.).