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Torsion Corporation will pay a dividend of $ 2 next year. After this payment, the dividends will increase at a rate of 2 % for

Torsion Corporation will pay a dividend of $2 next year. After this payment, the dividends will increase at a rate of 2% for 2 years, 3% for one year, and 4% in perpetuity afterward. If the required rate of return is 10%, what should the price of Torsion stock be today based on the discounted dividend model? Round intermediate calculations to 4 decimal points, and the final answer to 2 decimal points.

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