Problem $8-24$ Two$-$Stage Dividend Growth Model $[$LO$1]$

Mountain Corporation just paid a dividend of $$1\mathrm{.}60$ per share. The dividends are expected to grow at $19$ percent for the next eight years and then level off to a growth rate of $5$ percent indefinitely. If the required return is $14$ percent, what is the price of the stock today?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$\mathrm{.}9.,32\mathrm{.}16.$

$\backslash$table$[[$Stock price,$