Earnings per common share of ABC Industries for the next year are expected to be $2.3 and to grow 8% per year over the next 4 years. At the end of the 5 years, earnings growth rate is expected to fall to 6.5% and continue at that rate for the foreseeable future. ABC's dividend payout ratio is 45%. If the expected return on ABC's common shares is 18%, calculate the current share price. (Round your answer to the nearest cent.) Current share price $