A share of stock is expected to sell for $100 and pay a dividend of $2 at the year's end. What is the fair price of the stock today if its beta is 1.27? Assume that the risk free rate is 0.04 and the expected risk premium on the market is 0.15 %.

Round your answer to 4 decimal places . For example , if your answer is 3.205 %, then please write down 0.0321 .