CDQ Products INc. has decided that its dividend policy should reflect company growth. They indicate that the first quarterly dividend they intend to pay will be $0.80 per share 3 years from today. Quarterly dividends will then increase at rate of 2% per quarter until the end of 6th year and then grow at 1.2% per quarter thereafter. What share price should you pay for such a stock if you expect an effective annual return of 15% per year?