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A stock is expected to pay the following dividends: $ 1 . 3 in 1 year, $ 1 . 7 in 2 years, and $

A stock is expected to pay the following dividends: $1.3 in 1 year, $1.7 in 2 years, and $1.8 in 3 years, followed by growth in the dividend of 7% per year forever after that point. The stock's required return is 15%. The stock's current price (Price at year 0) should be $____________.
Margin of error for correct responses: +/-.10
Rounding and Formatting instructions:
Do not enter dollar signs, percent signs, commas, X, or any words in your response. Do not round any intermediate work, but round your *final* response to 2 decimal places (example: if your answer is 12.3456,12.3456%, or $12.3456, you should enter 12.35).

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