The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant based beverages; tea and coffee; and energy drinks. Coca-Cola recently paid a year-end dividend of $2.00 a share. The growth rate in the dividend is expected to decrease by 5 percent a year, forever. The company's required rate of return is 15 percent.

Required:

Calculate the intrinsic value of Coca-Colas stock.