Campbell Soup Co. (CPB) paid a $0.812 dividend per share in 2003, which grew to $1.03 in 2006. This growth is expected to continue. What is the value of this stock at the beginning of 2007 when the required return is 9.8 percent? (Round the growth rate, g, to 4 decimal places. Round your final answer to 2 decimal places.)

Stock Value=