A stock is expected to pay a dividend of $1.1 one year from now, $1.7 two years from now, and $2.5 three years from now. The growth rate in dividends after that point is expected to be 8% annually. The required return on the stock is 14%. The estimated price per share of the stock six years from now should be $_________.

Margin of error for correct responses: +/- .10

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