Gloria's Boutique recently paid $1.65 as an annual dividend. Future dividends are projected at $1.68, $1.72, $1.76, and $1.80 over the next four years, respectively. Beginning four years from now, the dividend is expected to increase by 4% percent annually. What is one share of this stock worth to you if you require an 11 percent rate of return on similar investments? With formulas.