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Part $1$

Procter and Gamble$($PG$)$ paid an annual dividend of $ $2\mathrm{.}81$ in $2021.$ You expect PG to increase its dividends by $8\mathrm{.}7\%$ per year for the next five years$($through $2026),$ and thereafter by $3\mathrm{.}3\%$ per year. If the appropriate equity cost of capital for Procter and Gamble is $8\mathrm{.}4\%$ per$$ year, use the$$ dividend$-$discount model to estimate its value per share at the end of $2021.$

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Part $1$

The price per share is $$$

$$

$($Round to the nearest$$ cent.$)$