City Garden Suppliers paid a $2 dividend yesterday. It is expected that the dividend will grow at 10.5 percent per year for 5 years, 8.25 percent per year for 9 years, and then at 5.25 percent per year thereafter. If the investors' expected rate of return is 11.5 percent, what is the stock worth today? Hint: Use the present value formula for a growing annuity: rgc1[1(1+r1+g)T]. (Do not round intermediate calculations. Round your answer to 2 decimal places.)