MMM Inc. has an annual cash dividend policy that raises the dividend each year by 12.00%. Last year's dividend was $1.70 per share. Investors want a 16% return on this stock. What is the price today of this stock if the company will be in business for five years and not have a liquidating dividend (there is no selling price - stock simply cease to exist with no value then)? The price of this stock today is $(Do not use $ sign. Use commas to separate thousands. Use two decimals. Round to the nearest cent.)