pls work this out and explain how to do each step. please not on excel.

Stoneworks, Inc, has an odd dividend policy. The company has just paid a dividend of $15 per share and has announced that it will increase the dividend by $3 per share for each of the next five years, and then never pay another dividend. II you require a return of 11 percent on the company's stock, how much will you pay for a share today? (Do not round intermediate. calculations and round your answer to 2 decimal places, e.g. 32.16.)