Common stock value: Constant growthSeagate Technology is a global leader in data storage solutions and a high-yield dividend payer. From 2015 through 2019, Seagate paid the following per-share dividends:

Year	Dividend per share
2019	$2.55
2018	2.22
2017	1.85
2016	1.23
2015	1.57

Assume that the historical annual growth rate of Seagate dividends is an accurate estimate of the future constant annual dividend growth rate. Use a 20% required rate of return to find the value of Seagate's stock immediately after it paid its 2019 dividend of $2.55

The value of Seagate's stock is

$

(Round to the nearest cent.)