Universal Laser Inc. just paid a dividend of $3.25 on its stock. The growth rate in dividends is expected to be a constant 5 percent per year, indefinitely. Investors require a 14 percent return on the stock for the first three years, a 12 percent return for the next three years, and then an 10 percent return thereafter.

What is the current share price for the stock? (Do not round intermediate calculations and round the final answer to 2 decimal places. Omit $ sign in your response.)

Current share price