Wii U announced today that it will begin paying annual dividends. The first dividend will be paid next year in the amount of $1 a share. The following dividends will be $1.2, and $1.37 a share annually for the following two years, respectively. After that, dividends are projected to increase by 4 percent per year. How much are you willing to pay today to buy one share of this stock if your desired rate of return is 12 percent?