Procter and Gamble ( PG ) paid an annual dividend of $2.78 in 2021 . You expect PG to increase its dividends by 8.4% per year for the next five years (through 2026), and thereafter by 3.2% per year. If the appropriate equity cost of capital for Procter and Gamble is 8.6% per year, use the dividend-discount model to estimate its value per share at the end of 2021. The price per share is $ (Round to the nearest cent.)