Q$8$

A stock will pay no dividends for the next $3$ years. Four years from now, the stock is expected to pay its first dividend in the amount of $$2\mathrm{.}4.$ It is expected to pay a dividend of $$2\mathrm{.}9$ exactly five years from now. The dividend is expected to grow at a rate of $8\%$ per year forever after that point. The required return on the stock is $13\%.$ The stock's estimated price per share exactly TWO years from now, $P_2,$ should be $

Margin of error for correct responses: $+/-.10$

Rounding and Formatting instructions:

Do not enter dollar signs, percent signs, commas, X$,$ or any words in your response. Do not round any intermediate work, but round your response to $2$ decimal places $($example: if your answer is $12\mathrm{.}3456,12\mathrm{.}3456\%,$ or $$12\mathrm{.}3456,$ you should enter $12\mathrm{.}35).$