CX Enterprises has the following expected dividends: $1.06 in one year, $1.25 in two years, and $1.32 in three years. After that, its dividends are expected to grow at 3.7% per year forever (so that year 4's dividend will be 3.7% more than $1.32 and so on). If CX's equity cost of capital is 12.2%, what is the current price of its stock?
The price of the stock will be $. (Round to the nearest cent.)