X Enterprises has the following expecteddividends: $1

1 in oneyear, $1.30

1.30 in 2years, and $1.50

1.50 in 3 years. Afterthat, its dividends are expected to grow at 4

4% per year forever(so that year4's dividend will be 4

4% more than $1.50

1.50 and soon). IfCX's equity cost of capital is 13

13%, what is the current price of itsstock?

The current price of the stock is

.