Question: CX Enterprises has the following expected dividends: $ 1 . 1 5 in one year, $ 1 . 2 2 in two years, and $

CX Enterprises has the following expected dividends: $1.15 in one year, $1.22 in two years, and $1.27 in three years. After that, its dividends are expected to grow at 4.2% per year forever (so that year 4's dividend will be 4.2% more than 1.27 and so on). If CX's equity cost of capital is 11.7%, what is the current price of its stock?
The price of the stock will be (Round to the nearest cent.

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