A company just paid a dividend of $1.37 and it currently has a very high growth rate of 11.6%. Analysts expect this high growth rate to remain at this pace for 3 years, In year 4, the growth rate is expected to decay down to the average economic growth rate which is currently assumed to be 2.46%. If the relevant required return is 12%, then what is the stock's intrinsic value using the multistage DDM method? State your answer as a dollar amount with two decimal places.