Constant Growth Valuation Boehm Incorporated is expected to pay a $2.50 per share dividend at the end of this year (i.e., D1 = $2.50). The dividend is expected to grow at a constant rate of 3% a year. The required rate of return on the stock, rs, is 18%. What is the value per share of Boehm's stock? Round your answer to the nearest cent.