General Cereal common stock dividends have been growing at an annual rate of 5 percent per year over the past 10 years. Current dividends are $1.9 per share. What is the current value of a share of this stock to an investor who requires a 13 percent rate of return if the following conditions exist? Round your answers to the nearest cent.

Dividends are expected to continue growing at the historic rate for the foreseeable future. $

The dividend growth rate is expected to increase to 7 percent per year. $

The dividend growth rate is expected to decrease to 3.5 percent per year. $