NU YU announced today that it will begin paying annual dividends. The first dividend will be paid a year from today and will be $0.25 per share. After that NU YU plans to pay $0.40 two years from today, $0.60 three years from today, and $0.75 four years from today. After that dividends are projected to increase by 4% per year, forever. How much are you willing to pay to buy one share of this stock if your required return is12%? Round your final answer to two decimal places.