Discounted Dividend Valuation for ABC Corporation

ABC Corporation is a mature company that has consistently paid dividends to its shareholders for the past 20 years. The company recently announced that it plans to increase its dividend from $3.00 per share to $3.30 per share next year, anticipating a growth rate of 10% for the next three years before stabilizing to a long-term growth rate of 4% thereafter. The required rate of return for ABC Corporation's stock, based on the capital asset pricing model (CAPM), is estimated to be 12%.

Using the Discounted Dividend Valuation method, what is the value of ABC Corporation's stock today?