An analyst gathered the following data about a company:
• A historical dividend payout ratio of 40% that is projected to continue into the future.
• A sustainable return on equity of 10%.
• A beta of 1.3.
• The nominal risk-free rate is 5%.
• The expected market return is 10%. If next year's EPS is $2 per share, what should be estimated price for this stock? $__________.