Tattletale News Corporation has been growing at a rate of 10% per year, and you expect this growth rate in earnings and dividends to continue for another 3 years. The last dividend paid was $4. The discount rate is 17% and the steady growth rate after 3 years is 2%.

What is your prediction for the stock price in 1 year?

Note: Do not round intermediate calculations. Enter your answer as a dollar amount rounded to 2 decimal places.

Calculate the expected rate of return.