Problem $8-8$ Value of Dividends and Future Price $($LG$8-5)$

A firm is expected to pay a dividend of $$2\mathrm{.}15$ next year and $$2\mathrm{.}30$ the following year. Financial analysts believe the stock will be at their price target of $$80$ in two years.

Compute the value of this stock with a required return of $12\mathrm{.}1$ percent.

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.