John Johnson is interested in buying the stock of First National Bank. While the bank's management expects no growth in the near future, John is attracted by the dividend income. Last year the bank paid a dividend of $6.91. If John requires a return of 13 percent on such stocks, what is the maximum price he should be willing to pay for a share of the bank's stock? (Round answer to 2 decimal places, e.g. 15.25.) Maximum price $