A company paid a $$2$ per share dividend at the end of the previous fiscal year $($December $31$st$).$ Today is the first day of the new fiscal year $($January $1$st$)$ and you are deciding whether to purchase one share of stock. The dividend is expected to grow at a rate of $8\%$ for the next $3$ years; then it will grow at $4\%$ forever. The appropriate discount rate is $12\%.$ How much would you be willing to pay for one share of stock?