Metallica Bearings, Incorporated, is a young start$-$up company. No dividends will be pald

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 $$14$ per share in $10$ years and will

Increase the dividend by $6$ percent per year thereafter. If the required return on this

stock is $12$ percent, what is the current share price? $($Do not round Intermedlate

calculatlons and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Current share price