ABC just paid a dividend of D0 = $2.5. Analysts expect the company's dividend to grow by 33% this year, by 24% in Year 2, and at a constant rate of 6% in Year 3 and thereafter. The required return on this stock is 16%. What is the best estimate of the stock's current market value?
Note: Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box.