Janicek Corp. is experiencing rapid growth. Dividends are expected to grow at 32 percent per year during the next three years, 22 percent over the following year, and then 7 percent per year indefinitely. The required return on this stock is 10 percent and the stock currently sells for $78 per share. What is the projected dividend for the coming year?

Do not round intermediate calculations and round your final answer two decimal places.