Afamily is considering a move from a midwestern city to a city in california. the distribution of housing costs where the family currently lives is normal with mean $105,000 and standard deviation $18,200. the distribution of housing costs in the california city is normal with mean $235,000 and standard deviation $30,400. the family's current house is valued at $110,000.

Beachballs, inc., expects abnormally high earnings for the next three years due to the forecast of unusually hot summers. after the 3-year period, their growth will level off to its normal rate of 6%. dividends and earnings are expected to grow at 20% for years 1 and 2 and 15% in year 3. the last dividend paid was $1.00. if an investor requires a 10% return on beachballs, the price she is willing to pay for the stock is closest to: