Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next seven years, because the firm needs to plow back its earnings to fuel growth. The company will then pay a $12.35 per share dividend in year 8 and will increase the dividend by 5.50 percent per year thereafter. Required: If the required return on this stock is 12.50 percent, what is the current share price? (Select rounded answers as directed, but do not use the rounded numbers in intermediate calculations.)