Assume Highline Company has just paid an annual dividend of $$1\mathrm{.}04.$ Analysts are predicting an $11\mathrm{.}5\%$ 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 $4\mathrm{.}8\%$ per year. If Highline's equity cost of capital is $7\mathrm{.}8\%$ 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 $$,($Round to the nearest cent.$)$