A stock just paid a dividend this morning of $1.35. Dividends are expected to grow at 13.00% for the next two years. After year 2, dividends are expected to grow at 8.50% for the following three years. At that point, dividends are expected to grow at a rate of 5.00% forever. If investors require a return of 13.00% to own the stock, what is its intrinsic value? Round to 2 decimal places.