Company B is expected to experience growth in three distinct stages in the future. Its most recent FCFE is $1.2 per share. The following information has been compiled:

Hight growth period: Duration = 3 years, FCFE growth rate = 30%, and shareholders required return = 22%

Transitional period:

Duration = 3 years, FCFE growth rate will decline by 8% per year down to the indicated stable growth rate, and shareholders required return = 16%

Stable growth period: FCFE growth rate = 6%, and shareholders required return = 12%

Calculate the stock price of this company.