Tindall Enterprises expects to pay a $ 1.00 dividend per share on its common stock at the end of next year. At the end of each of the 7 years following this dividend it expects that it will pay a dividend that is 6.00% larger than the prior dividend. At the end of each year thereafter it expects that each dividend will be 3.00% larger than the prior dividend. If Tindall's annual cost of equity capital is 9.00%, what will be the current price of a share of Tindall Enterprises' common stock according to the dividend discount model? Round your final answer to two decimal places