Summit Systems will pay a dividend of $ $1\mathrm{.}42$ this year. If you expect$$ Summit's dividend to grow by $6\mathrm{.}9\%$ per$$ year, what is its price per share if the$$ firm's equity cost of capital is $10\mathrm{.}7\%?$

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Part $1$

The price per share is $$$$.($Round to the nearest$$ cent.$)$