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This year, Bootle's Inc. just paid out a $1.15/share annual dividend. Analysts predict a 1%...

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This year, Bootle's Inc. just paid out a $1.15/share annual dividend. Analysts predict a 1% growth rate in earnings each year for the next 3 years, and after that they expect earnings to grow at the industry average of 4% forever. Comparable investments have a rate of return of 6%. If Bootle's Inc. expects to keep its dividend payout ratio constant, and only account for future earnings, what price should you expect to pay for the stock today

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