A company currently pays a dividend of $1.75 per share, D₀ = 1.75. It is estimated that the company's dividend will grow at a rate of 24% percent per year for the next 2 years, then the dividend will grow at a constant rate of 7% thereafter. The company's stock has a beta equal to 1.65, the risk-free rate is 4 percent, and the market risk premium is 5 percent. What is your estimate is the stock's current price? Round your answer to the nearest cent.