Phillips, Inc. just paid a dividend of $3.25 per share on its common stock [that is, DD = 3.25). Investors expect the dividend to grow at 4D% in years 1 and 2, they expect the dividend to grow at 20% in year 3 and the},r expect that all future dividends (that is, dividends in years 4, 5, ..., in?nity] to grow at a constant rate of 5% per year. If the east of capital for Phillips, Ine. stnek is 15%, what is the current price of the stock?