A company is expected to pay a dividend of $1 per share one year from now and $1.88 in two years. You estimate the risk-free rate to be 3.2% per year and the expected market risk premium to be 5.6% per year. In two years, you expect the leading PE ratio to be 16. You also expect the earnings to be $4.44 in year 2 and $5.25 in year 3. The beta of the stock is 1.2. What would be an appropriate estimate of the stock price today? (Answer to the nearest penny, i.e. 55.55 but do not use a $ sign).