A company currently pays a dividend of $4 per share (D0=$4). It is estimated that the company's dividend will grow at a rate 0 24% per year for the next 2 years and then at a constant rate of 7% thereafter. The company's stock has a beta of 1.1 , the riskfree rate is 6.5%, and the market risk premium is 3.5%. What is your estimate of the stock's current price? Do not round intermediate calculations. Round your answer to the nearest cent. $