A stock's dividend in 1 year is expected to be $2.1. The dividend is expected to remain the same indefinitely. The stock's required return is 13%. The estimated value of the stock today is $________.

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