NextFirst will begin paying annual dividends next year. Its first dividend will be in the amount of $$\mathrm{.}35$ a share. The following dividends will be $$\mathrm{.}40,$ $$\mathrm{.}55,$ and $$\mathrm{.}85$ for the following three years, respectively.

After that, dividends are projected to increase by $2\mathrm{.}7$ percent per year.

How much are you willing to pay today to buy one share of this stock if your desired rate of return is $8$ percent?