A company that currently does not pay dividends on its stock is expected to begin paying a constant $2 dividend 8 years from now. The company is expected to maintain this constant dividend for 15 years and then cease paying dividends forever. The required return on this stock is 12%. What will be the share price 7 years from now?

Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50