Holyrood Co$.$ just paid a dividend of $$1\mathrm{.}95$ per share. The company will increase its dividend by $24\%$ next year and will then reduce its

dividend growth rate by $6$ percentage points per year until it reaches the industry average of $6\%$ dividend growth, after which the

company will keep a constant growth rate forever. If the required return on Holyrood stock is $16\%,$ what will a share of stock sell for

today? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Stock price