Company A will be reducing its annual dividend by 5.0% a year for the next 2 years. After that, it will pay a dividend of $.92 a share, growing each year thereafter by 3.0%. This dividend stream with 3.0% growth per year is expected to last for 50 years (until the end of year 52), at which point each share can be exchanged for $12.00. The company recently paid a dividend of $1.64 per share. What is this stock worth given a 7.0% required rate of return?