Johnson and Johnson Pharmaceuticals (J&J) is expected to earn $2 per share next year. J&J has a payout ratio of 40 percent. Earnings and dividends have been growing at a constant rate of 10 percent per year, but analysts are estimating that the growth rate will be 7 percent a year for the indefinite future. Investors require a 15 percent return on J&J. What is its estimated price?