A stock will pay no dividends for the next 3 years. Four years from now, the stock is expected to pay its first dividend in the amount of $2.10. It is expected to pay a dividend of $2.60 exactly five years from now. The dividend is expected to grow at a rate of 8% per year forever after that point. The required return on the stock is 11%. The stock's estimated price per share exactly TWO years from now, P₂, should be $______.