Peterson Packaging Inc. does not currently pay dividends. The company will start with a $$0\mathrm{.}70$ dividend at the end of year three and grow it by $8\%$ for each of the next six years. After six years of growth, it will fix its dividend at $$1\mathrm{.}21$ forever. If you want a $12\%$ return on this stock, what should you pay today given this future dividend stream?

If you want a $12\%$ return on this stock, what should you pay today given this future dividend stream?

$($Round to the nearest cent.$)$