If this year dividend per share is $ 8.5 the cost of equity is 14.8 % and dividends are expected to growth at a constant 7 % forever . What is the value of this stock under the dividend discount model next year ( at the end of year one ) ? Note : Your answer should include two decimal places at least . The answer should only include numerical values . Do no include any symbol or alphabet or anything else that is not a numerical value .