APAC, a startup company has the following dividend schedule planned:

(a) The dividend at the end of the first year (D1) will be 10$. The dividends then fall at 5% per year year for 4 years (till the end of year 5). In other words, D2 is 5% less than D1, D3 is 5% less than D2, D4 is 5% less than D3 and D5 is 5% less than D4.

(b) Starting Year 6, dividends will grow at 5% i.e. D6 will be 5% more than D5, D7 will be 5% more than D6 and so on forever.

If the company's riskiness is such that its discount rate is 9%, what is the company's current value?