Berry Corp. just paid an annual dividend of $2.35. The Board of Directors at Berry Corp. decides that its dividend policy should reflect the company’s high growth strategy. Yearly dividends will increase at a rate of 5% per year over the first three years, then will increase at a rate of 3% for the fourth year, and finally grow at 2% per year thereafter. How much should you pay for such a stock if you expect a 4% annual rate?