Suppose that the effective 1-year risk-free rate is 6% per annum. The value of the stock in 1 year is random and not known today. The different possible values of the stock in 1 year are given in the table below. The corresponding risk-neutral probabilities are also shown in the table.

Value	$10	$12	$14	$15	$17	$22	$26
Risk Neutral Prob.	0.10	0.10	0.25	0.15	0.20	0.10	0.10

The annual cost-of-capital for the stock is 19.45%.

Find the fair value of the stock today.