No excel, using formulas to solve it!

Save Homework: MyFinanceLab (Graded) Assignment 3 Score: 0 of 5 pts 18 of 20 (17 complete HW Score: 83.75%, 83.75 of 100 pts P 7-21 (similar to) Question Help o Halford Corporation expects to have coming this coming year ol$3.360 per share. Haliford plans to retain all of ta samnings for the next two years. Then, for the subsequent two years, the firm will retrin 50% of its namings will retain 17% of is earrings from that point onward. Each year, retained eamings will be invested in new projects with an expected retum of 26 1% per year. Any elmings hat are not retained will be paid out as dividends. Assume Hallford's share count remains constant and all samnge growth comes from the investment of retained earnings, Halford's equity cost of capital is 84%, what price would you estimate for Halford stock? The stock price will be Round to the nearest cent) Enter your answer in the www box and then click Checker All parts showing Clear Check