The Morgan Music Company has common and preferred stock outstanding. The preferred stock pays an annual dividend of $9.5 per share, and the required rate of return for similar preferred stocks is 8%. The common stock paid a dividend of $2.50 per share last year, but the company expected that earnings and dividends will grow by 20% for the next three years before dropping to a constant 6% growth rate afterward. The required rate of return on similar common stocks is 12%.

What is the per-share value of the company's preferred and common stock?

(Do not round "PV factor" and other intermediate calculations. Round the final answer to 2 decimal places.)