A firm has just declared that its dividend next year will be $$3\mathrm{.}80$ per share. That rate of payment will continue for an additional $4$ years, after which the dividends will fall back to their usual $$2\mathrm{.}80$ per share. The discount rate is $11$ percent.

What is the present value of all the future dividends? $($Round answer to $2$ decimal places, e$.$g$.125\mathrm{.}12.$ Do not round your intermediate calculations.$)$

Present value of all future dividends

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