A Company's last dividend was $$4\mathrm{.}00.$ The dividend growth rate is

expected to be constant at $1\mathrm{.}5\%$ for $2$ years, after which dividends

are expected to grow at a rate of $8\mathrm{.}0\%$ forever. The firm's required

return $($R$)$ is $12\mathrm{.}0\%.$ What is the best estimate of

the current stock price?$$Do not round intermediate

calculations.$$