Holyrood Co. just paid a dividend of $2.45 per share. The company will increase its dividend by 20% next year and will then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5% dividend growth (i.e., 20%, 15%, 10%, 5%), after which the company will keep a constant growth rate forever. If the required return on Holyrood stock is 11%, what will a share of stock sell for today?