Problem $7-18$ Supernormal Growth $[$LO $1]$

Synovec Corporation is growing quickly. Dividends are expected to grow at a rate of $31$ percent for the next three years, with the growth rate falling off to a constant $6\mathrm{.}6$ percent, thereafter. If the required return is $12$ percent and the company just paid a dividend of $$2\mathrm{.}65,$ what is the current share price?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Share price