A firm is scheduled to earn $$3\mathrm{.}63$ per share over the next year. Since

the firm has an ROE of $18\mathrm{.}1\%,$ which is greater than the capitalization

rate of $10\mathrm{.}29\%$ estimated using CAPM, management has decided to

reinvest $29\%$ of the firm's earnings back into the firm in order to

generate future growth. Whatever the firm does not reinvest into the

business it pays as dividends to shareholders. Calculate the current

price per share for the firm.

Note: Round your answer to the nearest cent. For example, if the

calculated value of the firm is $$35\mathrm{.}7382,$ enter it as: $35\mathrm{.}74$