Procter and Gamble (PG) paid an annual dividend of $2.78 in 2021. You expect PG to increase its dividends by 7.5% per year for the next five years (through 2026 ), and thereafter by 2.6% per year. If the appropriate equity cost of capital for Procter and Gamble is 7.2% 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.)