Management expects earnings and dividends to grow at a rate of 25% for the next 4 years, after which competition will reduce the growth rate in earnings and dividends to zero. The companys last dividend was $1.25, its beta is 1.20, the market risk premium is 5.50%, and the risk-free rate is 3.00%. What is the current price of the common stock? (Note: use 4 decimal places for your calculations)