Netscrape Communications does not currently pay a dividend. You expect the company to begin paying a $4 per share dividend in 14 years, and you expect dividends to grow perpetually at 5 percent per year thereafter. If the discount rate is 13 percent, how much is the stock currently worth? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Price

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