Industrial Light and Magic, Inc., is a young start$-$up company. No dividends will be paid on the stock over the next $7$ years because the firm needs to plow back its earnings to fuel growth. The company will pay a $$5$ per share dividend in $8$ years and will increase the dividend by $4$ percent per year thereafter. $$If the required return on this stock is $11$ percent, what is the current share price? $($Do not round your intermediate calculations.$)$