Suppose that ABC Co. will not pay any dividends for the next 3 years, and the first dividend of $1.40 will be paid, instead, at the end of the following year. Assume the steady-state dividend growth rate and the required return on the stock are 3.5% and 11.1%, respectively. Calculate the current price of each share of ABCs stock? (Provide your answer as a number with two decimal places)