Dee's made two announcements concerning its common stock today. First, the company announced that the next annual dividend will be $1.87 a share. Secondly, all dividends after that will decrease by 1.91 percent annually. What is the value of this stock at a discount rate of 10.0 percent?  (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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