The Young Han Consulting Group (YHCG) is expanding into a new line of business. Aa result the company plans to increase its annual dividend by 12 percent a year for the next three years and then decreasing the growth rate to 3 percent per year. YHCG will pay an annual dividend in the amount of $2.50 per share next year. What is the current value of one share of YHCG stock if the required rate of return is 8 percent?