Problem $8-23$ Two$-$Stage Dividend Growth Model $($LO$1)$

Upper Gullies Corp. just paid a dividend of $$2\mathrm{.}30$ per share. The dividends are expected to grow at $23\%$ for the next eight years and then level off to a $7\%$ growth rate indefinitely. If the required return is $15\%,$ what is the price of the stock today? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$