$11$ point

A stock currently has a dividend of $$6\mathrm{.}40$ today. The dividend is expected to grow by $12\mathrm{.}06\%$ each year for the next $7$ years, and then $5\mathrm{.}84\%$ annually in perpetuity. If the required return is $21\mathrm{.}47\%,$ what is the value of the stock today using the differential growth model? Round your answer to the nearest cent.

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