Rajesh Robotics Corp. is expected to pay a dividend in year 1 of $1.95, a dividend in year 2 of $2.27, and a dividend in year 3 of $2.84. After year 3, dividends are expected to grow at the rate of 8% per year. An appropriate required return for the stock is 11%. What is your estimate of the intrinsic value of a share of the stock? (Do not round Intermediate calculations. Round your answer to 4 decimal places.) Stock price