Boehm Incorporated is expected to pay a $2.80 per share dividend at the end of this year (i.e., D₁ = $2.80). The dividend is expected to grow at a constant rate of 7% a year. The required rate of return on the stock, r_s, is 13%. What is the estimated value per share of Boehm's stock? Do not round intermediate calculations. Round your answer to the nearest cent.