Sourceless, Inc. is a successful distribution company. The company's class A common stock has paid a dividend of $3 per share per year for the last 15 years. Management expects to continue to pay at that amount for the foreseeable future. Sam purchased 400 shares of the class A common 5 years ago at a time when the required rate of return for the stock was 15%. He wants to sell his shares today. The current required rate of return for the stock is 20%. The value of the stock when Sam purchased it was $20 per share. (Round to the nearest cent.)

supposed to be blank where the $20 is!!!!!