Declining Products Corporation produces goods that are very mature in their product life cycles. Declining Products is expected to pay a dividend in year 1 of $1.42, dividend of $1.32 in year 2 , and a dividend of $1.27 in year 3 After year 3, dividends are expected to decline at a rate of 2% per year. An appropiate required rate of return for the stock is 8% What should the stock be worth? (Round your answer to 4 decimal places.)