CX Enterprises has the following expected dividends:

$1.05 in one year,

$1.17 in two years, and

$1.28 in three years. After that, its dividends are expected to grow at

3.9% per year forever (so that year 4's dividend will be

3.9% more than

$1.28 and so on). If CX's equity cost of capital is

12.5%, what is the current price of its stock?