According to Yahoo! Finance, Exxon Mobil (Ticker: XOM) has a payout ratio of 33% and a current book value of equity of $40.14 per share. Analysts Forecast Exxon Mobil will have earnings in 2014 of $7.53 and in 2015 of $7.64. Assume that following 2015, Exxon Mobil will have a stable ROE of 16%. Going forward, Exxon Mobil is expected to maintain its payout ratio of 33%. Suppose for 2016 you expect Exxon Mobil to pay a dividend of $2.66 on earnings of $8.05, what price would you expect Exxon Mobil to trade at if it has a 13% cost of equity? Your answer should be rounded to the nearest penny.