Storico Company just paid a dividend of $$2\mathrm{.}10$ per share. The company will increase its

dividend by $20$ percent next year and will then reduce its dividend growth rate by $5$

percentage points per year until it reaches the industry average of $5$ percent dividend

growth, after which the company will keep a constant growth rate forever. If the required

return on the company's stock is $11$ percent, what will a share of stock sell for today? $($Do

not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,$

$32\mathrm{.}16.)$

Answer is complete but not entirely correct.