A firm just paid its $1 annual dividend. The dividend is expected to grow at a 12% annual rate for the next 4 years (i.e., 4 periods of growth at 12% ) and then growth will slow down to 5% (i.e., growth at 5% for all subsequent periods). Given the riskiness of the firm's profits, the appropriate discount rate for the firm's dividend stream is 10%. What is your estimate of the firm's current stock price? Round your answer to two decimal points (do not include the $ sign). [Value per share]