Premier, Incorporated, has an odd dividend policy. The company has just paid a dividend of $9.75 per share and has announced that it will increase the dividend by $7.75 per share for each of the next four years, and then never pay another dividend. If you require a return of 16 percent on the companys stock, how much will you pay for a share today? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16