Problem $8-19$ Value a Constant Growth Stock $($LG$8-5)$

Financial analysts forecast Safeco Corp.$\text{'}$s $($SAF$)$ growth rate for the future to be $12$ percent. Safeco's recent dividend was $$1\mathrm{.}50.$

What is the value of Safeco stock when the required return is $14$ percent? $($Round your answer to $2$ decimal places.$)$