One of the challenges in finance theory is to reconcile the fact that stock prices are volatile $($the volatility of S&P annual return is around $16\%),$ but dividend growth is often quite smooth $($the volatility of annual aggregate dividend growth rate is around $6\%).$ This question illustrates the two channels that cause the fluctuations in stock prices: the cash flow channel and the discount rate channel.

Consider the Gordon Growth Model. Suppose ABC Corporation's total dividend payout for the current fiscal year, which just ended, was $$10\mathrm{.}86$ million. This dividend payout is expected to grow at $5\mathrm{.}79\%$ per year. The discount rate for the cash flow is $11\mathrm{.}02\%.$ For simplicity, assume that it is the beginning of ABC's fiscal year so that the earliest dividend comes in one year from now. ABC has $11\mathrm{.}18$ million outstanding shares.

What is ABC's current stock price?