A company generally pays a constant annual dividend of $2.90 per share at the end of every year. But at the beginning of this year it announced that the it would have to restructure its shipping business to compete and would retain all of its earnings for the next 5 years, not pay the next 5 dividends. It would return to the previous policy of a constant $2.90 at the end of every year after this break. Expectations in the market are that the company is true to its word. If equity cost of capital for this firm is expected to also be constant at 6.5%, then the value of a share of this company's stock is today what?