James Consol Company currently pays a dividend of $$2\mathrm{.}5$ per share on its common stock. The company expects to increase the dividend at a $5$ percent annual rate for the first two years and at a$8$ percent rate for the next six years, and then grow the dividend at a $3$ percent rate thereafter. This phased$-$growth pattern is in keeping with the expected life cycle of earnings. You require a $10$ percent return to invest in this stock. What value should you place on a share of this stock?