10 ts 03:17:10 Problem 8-15 Value of Future Cash Flows (LG8-5) A firm recently paid a $0.70 annual dividend. The dividend is expected to increase by 10 percent in each of the next four years. In the fourth year, the stock price is expected to be $32. If the required return for this stock is 13.5 percent, what is its current value? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Book Hint Current value