Holt Enterprises recently paid a dividend, D$0,$ of $$3\mathrm{.}50.$ It expects to have nonconstant growth of $12\%$ for $2$ years followed by a constant rate of $8\%$ thereafter. The firm's required return is $18\%.$

What is the firm's horizon, or continuing, value? Do not round intermediate calculations. Round your answer to the nearest cent.