A stock is expected to pay a dividend of $1.75 at the end of the year (i.e., D 1 = $1.75), and it should continue to grow at a constant rate of 5% a year. If its required return is 15%, what is the...

A stock is expected to pay a dividend of $1.75 at the end of the year (i.e., D₁
= $1.75), and it should continue to grow at a constant rate of 5% a year. If its required return is 15%, what is the stock's expected price 2 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.