You are considering the purchase of AMDEX Company shares. You anticipate that the

company will pay dividends of $$2\mathrm{.}00$ per share next year and $$2\mathrm{.}25$ per share the following

year. You believe that you can sell shares for $$17\mathrm{.}50$ each two years from now ex$-$dividend.

If your required rate of return is $12$ percent, what is the maximum price that you would pay

for a share