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A stock will pay dividends of $1.6 four years from today, $2.5 five years from today, and $3.3 six years from today. There will be

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A stock will pay dividends of $1.6 four years from today, $2.5 five years from today, and $3.3 six years from today. There will be no dividend payments prior to year 4. After year 6, the growth rate in dividends per year is expected to be 6% forever. The required return on the stock is 11%. P4, the price of the stock 4 years from now, should be $ * DO NOT ROUND INTERMEDIATE VALUES, NO CREDIT WILL BE GIVEN * FINAL ANSWER IN DOLLARS, ROUNDED TO TWO DECIMAL PLACES

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