Assume Highline Company has just paid an annual dividend of \$1.04. Analysts are predicting an 10.7% 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 5.6% per year. If Highline's equity cost of capital is 8.7% 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.)