Despite his extravagant clothing purchases, Mr Hypebeast was unable to impress his crush. Dejected and disheartened, he decides that the best way to overcome his sorrows is by dedicating time to his favourite hobby - investing. Mr Hypebeast is interested in DownBad Ltd. DownBad Ltd is in its growth stage and recently paid a dividend of $1.3. Over the next five years, it is expected to pay annual dividends while maintaining a retention ratio of 70% and a ROE of 13% (annually). Afterwards, DownBad Ltd will begin paying semi-annual dividends, maintaining a payout ratio of 80% and a ROE of 8% (annually). If the required rate of return is 10% per annum compounded annually for the first stage, and 8% per annum compounded annually for second stage respectively. What is the maximum price that Mr Hypebeast should pay for DownBad Ltd? Any intermediate steps should be rounded to 4 or more decimal places. Round your final answer in dollars to 2 decimal places and exclude the dollar sign ($). For example, $10,784.6518 should be input as 10784.65