Serious Spokes Custom Hot Rods is expected to pay a dividend in year 1 of $1.89, a dividend in year 2 of $2.94, and a dividend in year 3 of $3.93. After year 3, dividends are expected to grow at the rate of 5.11% per year. An appropriate required return for the stock is 9.3%. Using the multistage DDM, the stock should be worth __________ today. State your answer as a dollar amount with two decimal places.