ABC, Inc. has relatively stable earnings and pays an annual dividend of $0.8 per share. This dividend has remained constant over the past few years and is expected to remain constant for the foreseeable future. Assume that you expect to earn 5.12% return on an investment in the common stock of ABC, Inc.

What is the intrinsic value of ABC, Inc.'s stock?

Please round your answer to the second decimal without dollar sign. For example, 1.12.