Navel County Choppers Inc. is experiencing rapid growth. The company expects dividends to grow at 16 percent per year for the next 10 years before...

Navel County Choppers Inc. is experiencing rapid growth. The company expects dividends to grow at 16 percent per year for the next 10 years before leveling off at 6 percent into perpetuity. The required return on the company's stock is 11 percent. If the dividend per share just paid was $1.87, what is the stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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