Intrinsic Value of a Utility Stock

Beta Corp. is a stable company in the utilities sector with a current dividend of $1.80 per share. The company has consistently increased its dividend at a rate of 4% per year for the past decade. Analysts expect this growth rate to continue for the foreseeable future.

The required rate of return for equity investors in this sector is estimated to be 10%. Using the Gordon Growth Model, what is the intrinsic value of a share of Beta Corp.?