A stock will not pay any dividends next year or two years from now. Three years from now, it is expected to pay a dividend of $2.4, and then a dividend of $3.2 four years from now. The growth rate in...

A stock will not pay any dividends next year or two years from now.Three years from now, it is expected to pay a dividend of $2.4, and then a dividend of $3.2four years from now.  The growth rate in dividends after that point is expected to be 7% annually.  The required return on the stock is 13%.  The estimated price per share of the stock 11 years from now should be $_________.

Do not round any intermediate work, but round yourfinal answer to 2 decimal places (ex: $12.34567 should be entered as 12.35).  Do not enter the $ sign.