Consider the following information which relates to a given company:

Item	2019 Value
Earnings Per Share	$6.66
Price Per Share (Common Stock)	$37.53
Book Value (Common Stock Equity)	$60.3	Million
Total Common Stock Outstanding	2.4	Million
Dividend Per Share	$4.57

Analysts expect that the company could maintain a constant annual growth rate in dividends per share of 6.97% in the future, or possibly 8.48% for the next 2 years and 6.67% 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 8.57% to 12.19%. Currently, the risk-free rate is 5.67%.

Required: Assuming no growth in future dividends, and a required return of 16.79%, find the value per share of the firm's stock.

$Answer(ROUND YOUR ANSWER TO 2 DECIMAL PLACES. FOR EXAMPLE: 17.23)