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Whispering Supplies Ltd, currently doesn't pay any dividends but is expected to start paying dividends in five years. The first dividend is expected to be

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Whispering Supplies Ltd, currently doesn't pay any dividends but is expected to start paying dividends in five years. The first dividend is expected to be $1.00 and is expected to grow at 4.0 percent thereafter. The required rate of return for the firm is 9.0 percent. What is Whispering's curcent stock price? (Round intermedlate calculations to 3 decimal ploces, es, 20.417 and the final answer to 2 decimal places, eg. 15.61)

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