High Speed Dirt Inc. is expected to pay a dividend of $5.7 at the end of the year (D1=$5.7). The dividends are expected to grow at a constant rate of 4% annually forever. The risk-free rate, rRF, is 2%. The expected market return, rM, is 7%. High Speed Dirt has a beta of 1.1. What is the intrinsic value of this stock? (Round your answer to 2 decimal places.)