Tresnan Brothers is expected to pay a $2.70 per share dividend at the end of the year (i.e., D₁ = $2.70). The dividend is expected to grow at a constant rate of 10% a year. The required rate of return on the stock, r_s, is 20%. What is the stock's current value per share? Round your answer to the nearest cent.

$ ______

9-2