Problem $9-11$ Stock Valuation

Quinoa Farms just paid a dividend of $$3\mathrm{.}85$ on its stock. The growth rate in dividends is expected to be a constant $4$ percent per year, indefinitely. Investors require a return of $12$ percent on the stock for the first three years and a return of $10$ percent for the next three years, and then a return of $8$ percent thereafter. What is the current share price for the stock? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Current share price