A fast growing firm recently paid a dividend of $0.15 per share. The dividend is expected to increase at a 26 percent rate for the next four years. Afterwards, a more stable 11.5 percent growth rate can be assumed.
If a 14.0 percent discount rate is appropriate for this stock, what is its value? (Do not round your intermediate calculations and round your final answer to 2 decimal places. Omit the "$" sign in your response.)
Stock value $