Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the

stock over the next nine years because the firm needs to plow back its earnings to fuel

growth. The company will pay a dividend of $17 per share 10 years from today and will

increase the dividend by 3.9 percent per year thereafter. If the required return on this stock

is 12.5 percent, what is the current share price?