A stock has no dividends. The last periods FCFE is $5.39 and it has an estimated annual free cash flow growth rate of 8%. The company should maintain this growth rate for 3 more years before it decays to the estimated long term growth rate of 2.46%. The required return for this stock is 11% and its current ROE is 37.8%. What it the estimated intrinsic value using the multistage FCFE method? State your answer as a dollar amount with two decimal places and use the adjusted method as shown in the textbook.