Intrinsic Value Calculation for Bookworm Publications

Bookworm Publications, a long-established publishing house, is currently paying a dividend of $3.00 per share. Analysts predict that the company will increase its dividends at a rate of 6% per year for the next 5 years, after which the growth rate is expected to shift to a stable rate of 4% indefinitely. An investor requires a return of 10% on their investments. What is the intrinsic value of the stock today based on the discounted dividend model?