In order to buy back its own shares, Pennzoil Co. Has decided to suspend its dividends for the next two years. It will resume its annual cash dividend of $2.00 a share 3 years from now. This level of dividends will be maintained for one more year. Thereafter, Pennzoil is expected to increase its cash dividend payments by an annual growth rate of 6% per year forever. Pennzoils beta is 1.0, the market return is 12% and the risk-free rate is 5 %. What should Pennzoils share price currently be?