Question $12$

$($CHAPTER $8)$

"Starducks", a coffee chain $($it$\text{'}$s real! $),$ is a publicly traded company, and you need to figure out the current value of its stock shares. Here is what you know about its expected future per$-$share dividends: $$4$ in $1$ year, $$5$ in $2$ years, $$7$ in $3$ years, after which the dividends are expected to grow at the annual rate of $4\%,$ indefinitely. The company's return on its investments is $11\%$ per year.

What is today's value of Starducks' stock share?

Increase the decimal places for any intermediate calculations, and round your final answer to TWO decimal places, for example, $123\mathrm{.}45$

Do NOT use $"$$$"$ in your answer.