Procter and Gamble (PG) paid an annual dividend of $2.84 in 2018. You expect PG to increase its dividends by 8.1% per year for the next five years (through 2023), and thereafter by 2.6% per year. If the appropriate equity cost of capital for Procter and Gamble is 8.9% per year, use the dividend-discount model to estimate its value per share at the end of 2018.

The price per share is _____$. (Round to the nearest cent.)