Quantitative Problem $3$: Assume today is December $31,2018.$ Imagine Works Inc. just paid a dividend of $$1\mathrm{.}20$ per share at the end of $2018.$ The dividend is expected to grow at $15\%$ per year for $3$ years, after which time it is expected to grow at a constant rate of $5\%$ annually. The company's cost of equity $(r_s)$ is $9\%.$ Using the dividend growth model $($allowing for nonconstant growth$),$ what should be the price of the company's stock today $($December $31,2018)?$ Do not round intermediate calculations. Round your answer to the nearest cent.

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