$($Estimated time allowance: $17$ minutes$)$ Pera Inc. does not currently pay dividends The company will start with an annual dividend of $$6$ at the end year $6$ and will pay the same amount each year until year $17.$ Thereafter, it will increase the dividends by $3\%$ per year forever. If the required rate of return on this stock is $11\%$ what is the price of this stock today?