Aardvark Engineering is a risky stock that has a beta of 1. The retention rate of the firm is 40%. Recent earnings per share were $1.

1.      Aardvark Engineering is a risky stock that has a beta of 1.5. The retention rate of the firm is​ 40%. Recent earnings per share were​ $1.85 per share and the growth rate is expected to be a constant 8% for the foreseeable future. Alternatively, the risk-free investment has a return of 4%, and the market has been returning 12%. The price of​ Aardvark's common stock is closest​ to: