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You expect that Bean Enterprises will have earnings per share of​ $2 for the coming year....

You expect that Bean Enterprises will have earnings per share of​ $2 for the coming year. Bean plans to retain all of its earnings for the next three years. For the subsequent two​ years, the firm plans on retaining​ 50% of its earnings. It will then retain only​ 25% of its earnings from that point forward. Retained earnings will be invested in projects with an expected return of​ 20% per year. If​ Bean's equity cost of capital is

14​%,

then the price of a share of​ Bean's stock is closest​ to:

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