Intrinsic Value of Global Tech Inc. Using DDM

Global Tech Inc. is a leading technology firm that has established a strong market presence. The company has announced that it will pay a dividend of $4.00 per share next year. Furthermore, analysts project that the company's dividends will grow at a constant rate of 6% annually. The required rate of return for equity investors in this industry is estimated to be 10%. Based on this information, what is the intrinsic value of Global Tech Inc.'s stock using the Gordon Growth Model?