Assume Highline Company has just paid an annual dividend of $1.04. Analysts are predicting an 11.7% per year growth rate in earnings over the next five years. After then, Highline's earnings are expected to grow at the current industry average of 5.4% per year. If Highline's equity cost of capital is 8.1% 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 $53.56. (Round to the nearest cent.)