Caan Corporation will pay a $$3\mathrm{.}10$ per share dividend next year. The company pledges to increase its dividend by $4\mathrm{.}5$ percent per year indefinitely. If you require a return of $11$ percent on your investment, how much will you pay for the company's stock today? $($Do not round intermediate calculations. Round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Stock price $,$$$49\mathrm{.}84$