Metallica Bearings, Inc., is a young start$-$up company. No dividends will be paid on the stock over the next $12$ years because the firm needs to plow back its earnings to fuel growth. The company will pay a dividend of $$7$ per share $13$ years from today and will increase the dividend by $7$ percent per year thereafter.

If the required return on this stock is $12$ percent, what is the current share price?

Multiple Choice

$$34\mathrm{.}14$

$$35\mathrm{.}93$

$$32\mathrm{.}08$

$$37\mathrm{.}73$

$$37\mathrm{.}01$