A company has just paid its first dividend of $2.46. Next year's dividend is forecast to grow by 9 percent, followed by another 9 per cent growth in year two. From year three onwards dividends are expected to grow by 2.3 percent per annum, indefinitely. Investors require a rate of return of 14 percent p.a. for investments of this type. The current price of the share is (round to nearest cent)
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