Procter and Gamble$($PG$)$ paid an annual dividend of $ $2\mathrm{.}88$ in $2021.$ You expect PG to increase its dividends by $8\mathrm{.}5\%$ per year for the next five years$($through $2026),$ and thereafter by $2\mathrm{.}9\%$ per year. If the appropriate equity cost of capital for Procter and Gamble is $8\mathrm{.}4\%$ per$$ year, use the$$ dividend$-$discount model to estimate its value per share at the end of $2021.$

Question content area bottom

Part $1$

The price per share is $$$$?$