First Innovators, Inc. (FII) is presently enjoying relatively high growth because its latest new product is years ahead of its competition.Management expects earnings and dividends to grow at a rate of 40% for the next 4 years, after which its new product's competition will increase and reduce the growth rate in earnings and dividends to 2%, i.e., g = 2%. The company's last dividend, D0, was $2.75. FII's beta is 1.50, the market risk premium is 5.75%, and the risk-free rate is 3.50%. What is the intrinsic value of FII's common stock?Enter your answer rounded to two decimal places.Do not enter $ or comma in the answer box.For example, if your answer is $12,300.456 then enter as 12300.46 in the answer box.