Diets For You announced today that it will begin paying annual divi-

dends next year. The first dividend will be $0.12 a share. The following

dividends will be $0.15, $0.20, $0.50, and $0.80 a share annually for the

following 4 years, respectively. After that, dividends are projected to in-

crease by 6 percent per year. How much are you willing to pay to buy one

share of this stock today if your desired rate of return is 8.5 percent?