You are planning to make an investment in a fund that has 5 years to maturity and just made a dividend payment of $10 per share. Future payments are expected to increase at a rate of 8% per year over the next 5 years, which is your expected holding period for the investment. If your required rate of return is 11% p.a., how much would you be willing to pay for each share of the fund in which you intend to invest?