Pine Grove, Inc., is a thriving young company and it expects no dividends over the next $3$ years because the company needs to reinvest its earnings to fund its various projects. The company will pay a $$5\mathrm{.}1$ per share dividend in $4$ years and will increase the dividend by $7$ percent per year thereafter. If the required return on this stock is $13\mathrm{.}2$ percent, the current share price should be $

$($Do not include the dollar sign $($$$).$ Round your answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

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