$($Cormmon stock valuation$)$ Wayne, Inc.$\text{'}$s outstanding common stock is currently selling in the market for $$20.$ Dividends of $$2\mathrm{.}17$ per share were paid last year, return on equity is $22$ percent, and its retention rate is $24$ percent.

a$.$ What is the value of the stock to you, given a required rate of return of $15$ percent?

b$.$ Should you purchase this stock?

a$.$ Given a required rate of return of $15$ percent, the value of the stock to you is $$.($Round to the nearest cent.$)$