Last years dividend of Mystic Aromas Pty Ltd was $2.75. The growth in dividends is expected to be 8% per year for the next two years, followed by a growth rate of 4% per year for three years; after this five-year period, the growth in dividends is expected to be 3% per year, indefinitely. The required rate of return on Mystic Aromas is 11%. The price of the stock today should be closest to: