A firm's board of directors has authorized stock repurchases of $10 million one year from now and $14 million two years from now. Three years from now, the firm will discontinue share repurchases. Instead, the firm will pay dividends totaling $19 million three years from now. Beginning in the fourth year, dividends are expected to grow at a rate of 2% forever. There are 8 million common shares outstanding and the equity cost of capital is 8.0 percent. What is each share of stock worth today?