Assume Highline Company has just paid an annual dividend of $0.96. Analysts are predicting an 11.0% per year growth rate in earnings over the next five years. After then, Highline's earnings are expected to grow at the current industry average of 5.2% per year. If Highline's equity cost of capital is 8.5% per year and its dividend payout ratio remains constant, for what price does the dividend discount model predict Highline stock should sell? The value of Highline's stock is $ (Round to the nearest cent.)