Problem 6-15 Two-Stage Dividend Growth Model (LO2, CFA5) Could I Industries just paid a dividend of $1.45 per share. The dividends are expected to grow at a rate of 17 percent for the next five years and then level off to a growth rate of 5 percent indefinitely. If the required return is 15 percent, what is the value of the stock today? (Do not round intermediate calculations. Round your answer to 2 decimal places.)