IncomCorporation's most recentdividendD₀was $1.49, and thanks to their exclusive contract to manufacture and T-65B's, they anticipate constant growth at a rate of 4.2 percent into the future.

Assuming you won't pay more per share than a stock is worth, what is the fair value of the stock if therequired return (rs) = 10.3 percent?

Answer to the nearest penny, and skip the $ sign.