ETP Corp. paid an annual dividend last year of $10 per share. The company follows a policy to raise dividends each year by 4%.

The company will be in business for 12 years and not have a liquidating dividend (**there is no future selling price at the end of 12 years). The required rate of return for this investment is 12%.

What is the price of this stock today?

For your answer, round to 2 decimals and do not use the $.Do not use commas to separate thousands.