Based on its perceived riskiness, the annual required rate of return is $11\mathrm{.}7\%$ for shares of

Cyberdyne Inc. The company just paid their annual dividend of $$10\mathrm{.}57$ a share. Analysts

predict that the dividend will grow at an annual rate of $7\mathrm{.}5\%.$ What is the estimated price of

the stock in $4$ years, using the Dividend Discount Model? Answer to the nearest penny.

Answer: