A company currently pays a dividend of $3.5 per share (D0 = $3.5). It is estimated that the company's dividend will grow at a rate of 20% per year for the next 2 years, and then at a constant rate of 8% thereafter. The company's stock has a beta of 0.9, the risk-free rate is 7.5%, and the market risk premium is 6%. What is your estimate of the stock's current price? Round your answer to the nearest cent.