Kruger Associates is considering a substantial investment in the stock of McIntyre Enterprises. McIntyre currently (time 0) pays a dividend of $2.1 per share. This dividend is expected to grow at 17 percent per year for the next 3 years and 8 percent per year for the following 3 years. McIntyre's marginal tax rate is 40 percent. Kruger expects the value of the McIntyre stock to increase by 55 percent between now and thebeginningof year 5. If Kruger requires a 13 percent rate of return on investments of this type, what value would Kruger place on the McIntyre stock? UseTable IIto answer the question. Do not round intermediate calculations. Round your answer to the nearest cent.