Earnings per common share of ABC Industries for the current year are expected to be $2.4 and to grow 9% per year over the next 4 years. At the end of the 5 years, earnings growth rate is expected to fall to 7% and continue at that rate for the foreseeable future ABC 's dividend payout ratio is 40%. If the expected return on ABC 's common shares is 17%, calculate the current share price. (Do not round intermediate calculations. Round your answer to the nearest cent.)