Question: Sultan Services has 1.1 million shares outstanding. It expects earnings at the end of the year of $5.30 million. Sultan pays out 60% of its earnings in total - 40% paid out as dividends and 20% used to repurchase shares. If Sultan's earnings are expected to grow by 6% per year, these payout rates do not change, and Sultan's equity cost of capital is 11?%, what is Sultan's share price?