Firm OilCo is expected to pay a constant regular dividend of $4$ euro$/$year in every year forever starting with a year from $t=0($i$.$e$.,$ at dates $t=1,$

$2,3,$dots,$--$ these dividends do not grow. OilCo is expected to pay a one$-$time special dividend of $27$ euro$/$share at date $t=2.$ Assume that

CAPM holds: risk$-$free rate is $0$ percent, OilCo has a beta of $0\mathrm{.}5,$ the expected return on the market is $16$ percent. What is the company's

expected stock price at date $t=1$ right after the payment of the first regular dividend? Enter your answer as a number without a euro sign.