GE has an expected dividend (i.e. dividend next year, D1) of $1.10 per share, current EPS of $2 and expected EPS growth of 10% per year. Based in a typical P/E ratio of 12, the expected price in two years will be $29.04 in two years (i.e. P2). According to the discounted dividend value model, what is the present value of GE using a discount rate of 6% and a two years analysis period?