Emmy Lou, Inc. has an expected dividend next year of $5.60 per share, a growth rate of dividends of 10 percent, and a required return of 20 percent. The value of a share of Emmy Lou, Inc.'s common stock is ________.

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The value of a share of common stock can be calculated using the Gordon Growth Model (also known as the Dividend Discount Model for a perpetuity with growth) as follows: $ P_0 = \frac{D_1}{r - g} $, where $ P_0 $ is the price of the stock today, $ D_1 $ is the expected dividend next year, $ r $ is the required return, and $ g $ is the growth rate of dividends. Plugging in the given values: $ P_0 = \frac{5.60}{0.20 - 0.10} = \frac{5.60}{0.10} = 56.00 $.