Could I Industries just paid a dividend of $1.82 per share. The dividends are expected to grow at a 16 percent rate for the next 4 years and then level off to a 4 percent growth rate indefinitely. If the required return is 15 percent, what is the value of the stock today? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Price $______