Microsoft just announced the dividend for the current year in the amount of $2.10. This dividend is expected to grow at 15% for the next 3 years; then 10% for the following 2 years after which the dividend will grow at a constant growth rate of 3% for the foreseeable future. If your required rate of return for investing in a company like Microsoft is 12%, how much would you be willing to pay for the share of Microsoft?