Problem $4-13$ Two$-$stage DCF model

Company Z$-$prime's earnings and dividends per share are expected to grow by $5\%$ a year. Its growth will stop after year $4.$ In year $5$

and afterward, it will pay out all earnings as dividends. Assume next year's dividend is $$3,$ the cost of equity is $13\%,$ and next year's EPS

is $$8.$ What is Z$-$prime's stock price?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.