Assume Highline Company has just paid an annual dividend of $1.04. Analysts are predicting an 10.4% per year growth rate in eamings over the next five years. After then, Highine's earnings are expected to grow at the current industry average of 5.1% per year. If Highline's equity cost of capital is 8.6% per year and its dividend payout ratio remains constant, for what price does the dividend-discount model predict Highline stock should sell? The value of Highline's stock is $51.05 (Round to the nearest cent.)