Company Y$\text{'}$s common stock recently paid a dividend of $$3.$ They have traditionally grown

their dividend at $4\%.$ However, after a year of great performance, they have decided to begin

growing their dividend at $5\%.$ If the required return on the common stock is $9\%,$ the stock

price next year after the change in the dividend growth rate will be $

$($Round to two

decimal places.$)$