A company that currently does not pay dividends on its stock is expected to begin paying a constant annual dividend 8 years from now in the amount of $3.25 per share. The company is expected to maintain this dividend for 6 years and then cease paying dividends forever. Assume the required return on this stock is 12%. What will this stock sell for 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. Numeric Response