GE declares a dividend of $7 to be paid on a semi-annual basis ($7 will be paid out twice a year, the first will be paid 6 months from now), GE will only adjust the dividend amount on an annual basis (the two dividends paid within the year would be equal). An analyst forecasts that the dividend will increase 9% annually. At beginning of the year, Sue bought some GE shares and predicted a stated annual return of 22%, compounded semi-annually. At what price did Sue buy the GE share?