Saks is expected to pay a dividend in year 1 of $2.01, a dividend in year 2 of $2.33, and a dividend in year 3 of $2.90. 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 should the stock price be worth? (Do not round intermediate calculations. Round your answer to 4 decimal places.)