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 $2.5. It is expected to pay a dividend of $3 exactly five years from now. The dividend is expected to grow at a rate of 5% per year forever after that point. The required return on the stock is 12%. The stock's estimated price per share exactly TWO years from now, P2 , should be $______.