Could I Industries just paid a dividend of $1.20 per share. The dividends are expected to grow at a 17 percent rate for the next 6 years and then level off to a 4 percent growth rate indefinitely. If the required return is 16 percent, what is the value of the stock today? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.) Price $