Enchidna Ltd is forecasting that it can pay a quarterly dividend per share of $0.75 to its shareholders at the end of each of the next 16 quarters. The dividend will then grow at a quarterly rate of 0.8% forever. Shareholders of Enchidna Ltd require a return of 12% p.a. compounded quarterly. How much would each share of Enchidna Ltd cost?

Any intermediate steps should be rounded to 4 or more decimal places. Round your final answer in dollars to 2 decimal places and exclude the dollar sign ($) or comma. For example, $10,784.6518 should be input as 10784.65.