Allied Coal has never paid a common share dividend before. However, under pressure from their shareholders, the company agreed to begin paying a dividend three years from now (first payment at the end of the third year). The first dividend would be $3.15, and the company committed to growing the dividend by 2.0%, in line with an approximation for inflation. The companys required rate of return is 14%. What is your best estimate for the price of the shares (in $ to the nearest cent)?