An investor plans to buy A&B Incs common stock and hold it for two years. The investor expects to receive $0.7 dividend at the end of year one and $0.87 at the end of year two. After receiving the dividend at the end of year two, the investor plans to sell the stock at $23.26 right away (at the end of the year two). Assume that the A&B Inc is evaluated to have a required rate of return of 21.98%.

What is the intrinsic value of A&B Incs stock?

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