PPR Corporation plans to begin paying dividends in 8 years. The first five dividends will be as follows: D₈ = $5.60, D₉ = $5.60, D₁₀ = $5.54, D₁₁ = $5.54, and D₁₂ = $5.04 respectively. After five years of dividend payments, dividends are expected to grow at a constant rate of 4.00 percent forever. PPR's required rate of return is 11.00 percent. What is the current price (P₀) of PPR common stock?