You are considering the purchase of AMEX Company stock. 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 the stock for

$$17\mathrm{.}50$ per share two years from now. If your required rate of return is $12\%,$ what is the maximum price that you

would pay for a share of AMEX Company stock?