OZ Minerals Ltd. is a young start-up company. No dividends will be paid on the stock over the next 9 years because the firm needs to plow back (reinvest) its earnings to fuel growth. The company will...

OZ Minerals Ltd. is a young start-up company. No dividends will be paid on the stock over the next 9 years because the firm needs to plow back (reinvest) its earnings to fuel growth. The company will pay a dividend of $32 per share 10 years from today and will increase the dividend by 5 per cent per year thereafter. If the required return on this stock is 16 per cent, what is the current share price?