The French Thaler and Company's stock has paid dividends of $1.67 over the past 12 months. Its historical growth rate of dividends has been 5 percent, but analysts expect the growth to slow to 2 percent annually for the foreseeable future Determine the value of the stock if the required rate of return on stocks of similar risk is 10 percent. (Round answer to 2 decimal places, s. 527-52) Stock value $ 17.49