A company currently pays a dividend of $3.75 per share (D0 = $3.75). It is estimated that the company's dividend will grow at a rate of 23% per year for the next 2 years, then at a constant rate of 8% thereafter. The company's stock has a beta of 1.1, the risk-free rate is 4%, and the market risk premium is 5%. What is your estimate of the stock's current price? Do not round intermediate calculations. Round your answer to the nearest cent.