please show all work and explain

please dont use excel to solve

Save Homework: Chapter 7 Score: 0 of 3 pts XP 7-20 (similar to) 11 of 12 (11 complete HW Score: 68 42%, 13 of 19 pts Question Help * Assume Highline Company has just paid an annual dividend of $109 Analysts are predicting an 10 7% per year growth rate in earnings over the next five years. After then. Highline's earnings are expected to grow at the current industry average of 48% per year. If Highline's equity cost of capital is 8.5% per year and its dividend payout ratio remains constant, for what price does the dividend-discount model predict Highline stock should sol The value of Highline's stock is $ II (Round to the nearest cent)