An analyst forecasts the R&D spend of a pharmaceutical company using an AR(1) process by modeling the quarterly R&D spend per dollar of revenue. The estimated model is:

R&DSpend_{t+1} = 0.25 + 0.12(R&DSpend_t)

If the current quarter's R&D spend per dollar of revenue is $0.15, the two-quarter-ahead forecast of the R&D spend based on this model is closest to: