At the close of business on 16 December 2020, the common stock share of Old Mutual traded at $8.70/share. The company shall pay on 20 December 2020, a dividend for the year ended 30 June 2020 of $0.72/share. The directors of the company consider that the common stock dividends will grow constantly at 6% forever. The market risk premium is 13% and the Old mutual equity beta is 1.6. What is the value if the share of Old Mutual?