Earnings per common share of ABC Industries for the current year are expected to be $$2\mathrm{.}75$ and to grow $12\mathrm{.}5\%$ per year over the next

$4$ years. At the end of the $5$ years, earnings growth rate is expected to fall to $6\mathrm{.}25\%$ and continue at that rate for the foreseeable future.

ABC $\text{'}$s dividend payout ratio is $45\%.$ If the expected return on ABC's common shares is $13\mathrm{.}5\%,$ calculate the current share price. $($Do not

round intermediate calculations. Round your answer to the nearest cent.$)$

Current share price $ :