Jack Hammer invests in a stock that will pay dividends of $3.10 at the end of the first year; $3.50 at the end of the second year; and $3.90 at the end of the third year. Also at the end of the third year he believes he will be able to sell the stock for $60. What is the present value of these future benefits if a discount rate of 10 percent is applied? Use (Round "PV Factor" to 3 decimal places. Do not round intermediate calculations. Round the final answers to 2 decimal places.)