A fast$-$growing firm recently paid a dividend of $$0\mathrm{.}70$ per share. The dividend is expected to increase at a $30$ percent rate for the next four years. Afterwards, a more stable $11$ percent growth rate can be assumed.

If a $12\mathrm{.}5$ percent discount rate is appropriate for this stock, what is its value? $($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

Stock value