A common stock will pay a cash dividend of $4 next year. After that, the dividends are expected to increase indefinitely at 2% per year. If the discount rate is 13%, what is the PV of the stream of...

A common stock will pay a cash dividend of $4 next year. After that, the dividends are expected to increase indefinitely at 2% per year. If the discount rate is 13%, what is the PV of the stream of dividend payments?(
Round your answer to 2 decimal places.
)