A good friend that is a regular on the message boards recently commented that AMC stock will start paying dividends in the near future because of all of the cash flow that it generates. When pressed on the issue, the friend made a bold forecast that AMC will start paying its first dividend 3 years from now in the amount of $20 per share, after which the growth rate would be a constant rate of 3%, forever. AMC has a debt-to-equity ratio (D/E) of the annual YTM on the company's , a ) 1, bonds averages 8% and the company's tax rate is projected to be 30% in the future. If the risk-free rate is 3%, the market risk premium is 6% and AMC's Beta is 1.8. what should the stock sell for today based on a discounted valuation of the future dividends that your friend projected? Enter your answers in dollars and cents without a $ sign (e.g., $5,012.43 should be entered as 5012.43)