Bayes Plc is a company specialising in Oil and Gas exploration. The expected return on the stock of Bayes Plc is $14\%.$ In addition, you know that Bayes Plc has just paid a dividend of $1\mathrm{.}6$ and market analysts predict a long$-$run growth rate of $4\mathrm{.}6$ percent for the company. Given this information, calculate the fair market value for the stock of Bayes Plc today.