Problem $9-15$ Differential Growth

Synovec Company is growing quickly. Dividends are expected to grow at a rate of $22$ percent for the next three years, with the growth rate falling off to a constant $4$ percent thereafter. If the required return is $12$ percent and the company just paid a dividend of $$1\mathrm{.}60,$ what is the current share price? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$