Storico Co. just paid a dividend of $4.50 per share. The company will increase its dividend by 12 percent next year and will then reduce its dividend growth rate by 3 percentage points per year until it reaches the industry average of 3 percent dividend growth, after which the company will keep a constant growth rate forever. If the required return on Storico stock is 12 percent, a share of stock will sell for $today. (Do not include the dollar sign ($). Round your answer to 2 decimal places. (e.g., 32.16))