12:54 Apple Inc is starting a new project. It plans to manufacture new type of IPhones that have a 3D screen effect. It expects these phones to be a great success and bring rapidly growing profits in the first few years. After that, it expects the competition from other phone companies to kick in which will reduce the growth of annual profits. The dividends on Apple's shares will be growing accordingly. Here is the exact schedule of expected future dividends Most recently paid dividend is 52 Expected annual growth rate of dividends for the first 3 years is 40%. Expected annual growth rate of dividends after that is 10% Discount rate for this company is 17% Calculate the price per share of stock of Apple Inc. (Increase decimal places for any intermediate calculation from the delat 2 to or her. Only round your final answer to TWO decimal places for example, 100223 DO NOT Outs in your