A company currently pays a dividend of $4 per share (Do = $4). It is estimated that the company's dividend will grow at a rate of 20% per year for the next 2 years and then at a constant rate of 7% thereafter. The company's stock has a beta of 1.6, the risk-free ate is 9%, 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. $