A share of stock is expected to sell for $53 and pay a dividend of $6 at the years end. What is the fair price of the stock today if its beta is 1.19? Assume that the risk-free rate is 0.05 and the expected return on the market is 0.16. Round your answer to 4 decimal places. For example if your answer is 3.205%, then please write down 0.0321.