The earnings per share of Charles High-End Corporation are projected to be as follows:

End of Year Earnings 1 $2.80 2 $3.10 3 $4.00 4 $4.60 After year 4, earnings are expected to grow at a constant rate of 3.5% indefinitely. If the required rate of return is 11%, what would you estimate the value of Smooths stock to be? Round your answer to the nearest dollar.