The Fleming Corporation paid a dividend of$$$$1\mathrm{.}20$ last year.

Over the next $12$ months, the dividend is expected to grow at $9$

percent, which is the constant growth rate for the firm. The new

dividend after $12$ months will

represent$$D$1.$ The required rate of return

is $14$ percent.$$Compute the price of a common

share.$($Round the final answer to $2$

decimal places.$)$Common share price$$

$$ $$$