1. Thirsty Cactus Corp. just paid a dividend of $1.30 per share. The dividends are expected to grow at 35 percent for the next 7 years and then level off to a 9 percent growth rate indefinitely. If the required return is 15 percent, what is the price of the stock today? (Do not include the dollar Sign ($). Round your answer to 2 decimal places. (e.g., 32.16))