Green Hill Food (GHF) is expected to earn $5.60 per share during the next fiscal year (one year from now). Analysts expect the company to continue to maintain its 40% earnings retention (or plowback) ratio. Both earnings and dividends are expected to grow at 8.0% per year for the foreseeable future. If investors require a(n) 11.8% rate of return, what should a share of Green Hill Food stock be worth today? (Use the constant growth model relationship for this problem.) [Enter you answer to two decimal places (e.g. 56.45).
