Rearden metals expects to have earnings this coming year of​ $2.50 per share. rearden plans to retain all of its earnings for the next year. for the subsequent three​ years, the firm will retain​ 50% of its earnings. it will ten retain​ 25% of its earnings from that point onward. each​ year, retained earnings will be invested in new projects with an expected return of​ 20% per year. any earnings that are not retained will be paid out as dividends. assume​ rearden's shares outstanding remains constant and all earnings growth comes from the investment of retained earnings. if​ rearden's equity cost of capital is​ 10%, then​ rearden's stock price is closest​ to: