Halliford corporation expects to have earnings this coming year of $3/share. halliford plans to retain all of its earnings for the next two years. then, for the subsequent two years, the firm will retain 50% of its earnings. it will retain 20% of its earnings from that point onward. each year, retianed earnings will be invested in new projects with an expected return of 25% per year. any earnings that are not retained will be paid out as dividends. assume halliford's share count remains constant and all earnings growth comes from the investment of retained earnings. if halliford's equity cost of capital is 12 percent, what price would you estimate for halliford stock in years 0,1, and 2?

He moto hotel opened for business on may 1, 2017. here is its trial balance before adjustment on may 31. moto hotel trial balance may 31, 2017 debit credit cash $ 2,283 supplies 2,600 prepaid insurance 1,800 land 14,783 buildings 72,400 equipment 16,800 accounts payable $ 4,483 unearned rent revenue 3,300 mortgage payable 38,400 common stock 59,783 rent revenue 9,000 salaries and wages expense 3,000 utilities expense 800 advertising expense 500 $114,966 $114,966 other data: 1. insurance expires at the rate of $360 per month. 2. a count of supplies shows $1,050 of unused supplies on may 31. 3. (a) annual depreciation is $2,760 on the building. (b) annual depreciation is $2,160 on equipment. 4. the mortgage interest rate is 5%. (the mortgage was taken out on may 1.) 5. unearned rent of $2,580 has been earned. 6. salaries of $810 are accrued and unpaid at may 31