Great Pumpkin Farms just paid a dividend of $3.20 on its stock. The growth rate in dividends is expected to be a constant 5 percent per year indefinitely. Investors require a return of 15 percent for the first three years, a return of 13 percent for the next three years, and a return of 11 percent thereafter.
What is the current share price? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))