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Blossom Inc. has just paid a dividend of $3.80. An analyst forecasts annual dividend growth of 9 percent for the next five years; then dividends

Blossom Inc. has just paid a dividend of $3.80. An analyst forecasts annual dividend growth of 9 percent for the next five years; then dividends will decrease by 1 percent per year in perpetuity. The required return is 12 percent (effective annual return, EAR). What is the current value per share according to the analyst? round final answer to 2 decimal places. Round present values calculations to 5 decimals and other intermediate calculations to 3 decimals. final answer 2 decimal places.

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