CDI Media Inc. just made a public announcement that it will pay an annual dividend of $1.00 next year. It also stated that dividends are expected to increase by 40% a year for each of the following four years and then increase by 4% annually thereafter. The required rate of return on this stock is 16%. What is the expected price per share of CDI Media stock six years from now? (Note: please calculate the post-dividend price, i.e. the price right after the firm pays year 6 dividend) Answer to the nearest cent