A stock is expected to pay a dividend of $3.7 at the end of this year (this is Div1), and it should continue to grow at a constant rate of 6.9% per year forever. If its required return is 11.7%, the stock's price today should be $______________.

Margin of error for correct responses: +/- .05

Rounding and Formatting instructions: Do not enter dollar signs, percent signs, commas, X, or any words in your response. Do not round any intermediate work, but round your *final* response to 2 decimal places (example: if your answer is 12.3456, 12.3456%, or $12.3456, you should enter 12.35).