Valorous Corporation will pay a dividend of $1 per share in one year and a dividend of $1.2 per share in two years. It is expected that the price of Valorous' stock will be $23 per share in two years. If Valorous has an equity cost of capital of 10.0%, what is the maximum price that a prudent investor would be willing to pay for a share of Valorous stock today? Round your answer to two decimal places