Jester Joker's Toys has just paid a dividend of $1.60. Dividend projections indicate that dividends are expected to grow by 10% p.a. in the first year, 20% p.a. during the second year, and 5% p.a. from the third year onwards. Given this, and that the required rate of return on equity of 5%p a. compounded quarterly, what is the theoretical price of Jester Joker's Toys stock? (6 marks)