Problem $8-18$ Supernormal Growth $[$LO$1]$

Synovec Company is growing quickly. Dividends are expected to grow at a rate of $20$ percent for the next three years, with the growth rate falling off to a constant $5$ percent thereafter. If the required return is $10$ percent, and the company just paid a dividend of $$2\mathrm{.}20,$ what is the current share price? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Current share price