Laurel Enterprises expects earnings next year of $$$$4\mathrm{.}02$ per share and has a $50\%$ retention$$ rate, which it plans to keep constant. Its equity cost of capital is $9\%,$ which is also its expected return on new investment. Its earnings are expected to grow forever at a rate of $4\mathrm{.}5\%$ per year. If its next dividend is due in one$$ year, what do you estimate the$$ firm's current stock price to$$ be$?$

The current stock price will be $$?.($Round to the nearest cent.$)$