Real Estate Developers Inc. (RED) has just paid its annual dividend and the next dividend will be paid in exactly one year. The next dividend (D1) is expected to be $5/share and will grow at an annual rate of 12% for 9 years (i.e., D2 = D11.12, D3 = D21.12, ..., D10 = D91.12). In 10 years from today, RED will pay its final dividend (D10) and will be liquidated (no other payments are expected after the payment of D10). RED's required rate of return is 7%. What is RED's stock price today?

(Answer should be in 2 decimals)