City Garden Suppliers paid a $2 dividend yesterday. It is expected that the dividend will grow at 11 percent per year for 6 years, 7.5 percent per year for 13 years, and then at 5.5 percent per year thereafter. If the investors' expected rate of return is 12 percent, what is 1+g the stock worth today? Hint: Use the present value formula for a growing annuity: (Do not round r-g 1+r intermediate calculations. Round your answer to 2 decimal places.) x [1-( :)] . Today stock is worth $