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Vaughn Clothiers Ltd . ' s current dividend is $ 3 . 0 0 . Dividends are expected to grow by 9 percent for years

Vaughn Clothiers Ltd.'s current dividend is $3.00. Dividends are expected to grow by 9 percent for years 1 to 3,4 percent for years 4 to
7, and 3 percent thereafter. The required rate of return on the stock is 12 percent. What is the current stock price for Vaughn? (Round
intermediate calculations to 4 decimal places, e.g.45.1771 and final answer to 2 decimal places, e.g.45.17.)
Stock price $
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