Company Z-prime's earnings and dividends per share are expected to grow by 3% a year. Its growth will stop after year 4. In year 5 and afterward, it will pay out all earnings as dividends. Assume next year's dividend is $3, the cost of equity is 11%, and next year's EPS is $10. What is Z-prime's stock price? Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

Company Z-prime's earnings and dividends per share are expected to grow by 3\% a year. its growth will stop after year 4 . In year 5 and afterward, it will pay out all earnings as dividends. Assume next year's dividend is $3, the cost of equity is 11%, and next year's EPS is $10. What is Z-prime's stock price? Note: Do not round intermediate calculations. Round your answer to 2 decimal places