The Johnson Company has been very successful in the past five years. Over these years, it paid common stock dividend of $ 3 in the first year, $3.20 in the second year, $4.2 in the third year, $4.5 in the fourth year and its most recent dividend was $4.80. The company wishes to continue this dividend indefinitely. What is the value of the company’s stock if the required rate of return is 11 percent? (zero growth model)