Consider the following information which relates to a given company: Item 2019 Value Earnings Per Share $6.17 Price Per Share (Common Stock) $42.81 Book Value (Common Stock Equity) $63 Million Total Common Stock Outstanding 2 Million Dividend Per Share $3.91 Analysts expect that the company could maintain a constant annual growth rate in dividends per share of 6% in the future, or possibly 8% for the next 2 years and 7% thereafter. In addition, it is expected that the risk of the firm, as measured by the risk premium on its stock, to increase immediately from 8.7% to 11%. Currently, the risk-free rate is 5%. Required: (f) Assuming a constant annual 6% growth rate in future dividends, find the value per share of the firm's stock. The required return is 16.55%.