Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 13 years because the firm needs to plow back its earnings to fuel growth. The company will pay a $13 per share dividend in 14 years and will increase the dividend by 7 percent per year thereafter. Required: If the required return on this stock is 14 percent, what is the current share price? (Do not round your intermediate calculations.)

$34.83

$32.12

$35.50

$29.66

$33.81