Crystal Inc. just announced that it will cut its dividend from $3 to $2.6 per share and use the extra funds to expand its operations. Crystal's dividends were expected to grow at a 2.1% rate, and its share price was $37.5. With the new expansion, Crystal dividends are expected to grow at a 5.3% rate. Assuming the DDM can be applied to evaluate this company, what would be the new share price for Crystal after the change in the dividend? (Round your answer in dollars to 2 decimal places, e.g. put 1204.42 if your answer is 1204.4243.)