Joven Corp. is a young start-up company and therefore is not paying any dividends on the stock over the next 6 years. At the end of year 6, the company will pay a $3 dividend. The company will pay a $3.56 per share dividend at the end of year 7 and thereafter it will increase the dividends by 5% per year forever. If the required rate of return on this stock is 11%, what is the current (today's) share price? Show your answer to the nearest $.01. Do not use the $ or , signs in your answer.

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