I need assistance with computing the present value of these dividends if the required rate of return is 14 percent...

Sandhill Corp. is a fast-growing company whose management expects it to grow at a rate of 29 percent over the next two years and then to slow to a growth rate of 14 percent for the following three years. If the last dividend paid by the company was $2.15.

The dividend for the years 1 through 5 are as follows: (Rounded to 3 decimal places, e.g. 15.250.)

D1$ 2.774

D2$ 3.578

D3$ 4.079

D4$ 4.650

D5$ 5.301

Compute the present value of these dividends if the required rate of return is 14 percent. (Round intermediate calculations and final answer to 2 decimal places, e.g. 15.25.)

Present value$