Sandhill Inc. has just paid a dividend of $$3\mathrm{.}50.$ An analyst forecasts annual dividend growth of $9$ percent for the next five years; then dividends will decrease by $1$ percent per year in

perpetuity. The required return is $12$ percent $($effective annual return, EAR$).$

What is the current value per share according to the analyst?

$($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}54667$ and other intermediate calculations to $3$ decimal places, e$.$g$\mathrm{.}15\mathrm{.}612.$Round final answer to $2$ decimal places, e$.$g$\mathrm{.}15\mathrm{.}61.)$

Current value per share $=\_\_\_\_\_\_$