Saks is expected to pay a dividend in yeat 1 of $2.01, a dividend in year 2 of $2.33, and a dividend in year 3 of $290. 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 pnice be worth? (Do not round intermediate calculations. Round your aniswer to 4 decimal places.)