A company is expected to pay a dividend in year 1 of $1.77, a dividend in year 2 of $2.93, and a dividend in year 3 of $4.02. After year 3, dividends are expected to grow at the rate of 5.3% per year. Your required return is 10.5%. Using the multistage DDM, the stock's intrinsic value is __________ today.State your answer as a dollar amount with two decimal places.