CX Enterprises has the following expected dividends: $1.08 in one year, $1.16 in two years, and $1.35 in three years. After that, its dividends are expected to grow at 3.5% per year forever (so that year 4's dividend will be 3.5% more than $1.35 and so on). If CX's equity cost of capital is 12%, what is the current price of its stock? The price of the stock will be $ (Round to the nearest cent.)