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PanGlobal Transport common stock will pay a dividend of $ 1 . 9 0 in one year, $ 2 . 0 5 the next year,

PanGlobal Transport common stock will pay a dividend of $1.90 in one year, $2.05 the next year, $2.10 at the end of the third year, $2.40 at the end of the fourth year, and $2.65 at the end of the fifth year, after which the dividend will grow at a constant rate of 3.15% per year. If the dividends are discounted at an annual rate of 9.50%, then rounded to the nearest cent, the current price of PanGlobal Transport common stock is $_____.

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