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Headland Mechanical Inci's first dividend of $1.50 per share is expected to be paid six years from today. From then on, dividends will grow by

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Headland Mechanical Inci's first dividend of $1.50 per share is expected to be paid six years from today. From then on, dividends will grow by 10 percent per year for five years. After five years, the growth rate will slow to 5 percent per year in perpetuity. Assume that Headland's required rate of return is 12 percent. What is the price of a share of Headland Mechanical today? (Round present value foctor calculations to 5 decimol places, e.8.1.15612. Round other intermediate calculations to 3 decimal places, es. 1.1.56 and final answer to 2 decimal places, es.115.61)

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