Victoria's Sporting Goods, Inc. forecasts dividend payments for the next 4 years of $2.76, $3.22, $3.97, and $4.73 (respectively) based on market demand for its products. After four years, the company expects to grow at a more moderate rate of 2.25% indefinitely. If investors expect a return of 9.50% on their investment, what is the likely price of the stock today? (Do not round intermediate steps. Round your final answer to two decimal places.)