A fast$-$growing firm recently paid a dividend of $$0\mathrm{.}85$ per share. The dividend is expected to increase at a $20$ percent rate for the next

four years. Afterwards, a more stable $12$ percent growth rate can be assumed.

If a $13\mathrm{.}5$ 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