CX Enterprises has the following expected dividends:

$ 1.03

in one year,

$ 1.18

in two years, and

$ 1.32

in three years. After that, its dividends are expected to grow at

4.3 %

per year forever (so that year 4's dividend will be

4.3 %

more than

$ 1.32

and so on). If CX's equity cost of capital is

12.2 %

what is the current price of its stock?