Stacker Weight Loss currently pays an annual year-end dividend of

$1.20

per share. It plans to increase this dividend by

5.0%

next year and maintain it at the new level for the foreseeable future. If the required return on this firm's stock is

8%,

what is the value of Stacker's stock?

Question content area bottom

Part 1

The value of Stacker's stock is

$enter your response here.

(Round to the nearest cent.)