Merriweather Manufacturing Company has been growing at a rate of 3.9 percent for the past two years, and the CEO expects the company to continue to grow at this rate for the next several years. The company paid a dividend of 1.53 last year. If your required rate of return is 16.0 percent, what is the maximum price that you would be willing to pay for this companys stock? Round to 2 decimal places.