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Parker Travels Inc. paid a dividend of $2.50 for the year ended December 31 st , 2018, its last reported fiscal year. The companys dividends

Parker Travels Inc. paid a dividend of $2.50 for the year ended December 31st, 2018, its last reported fiscal year. The companys dividends are forecast to at a rate of 4.0% for the foreseeable future. The companys cost of equity is estimated at 11.0%. What is the estimated price of Parkers stock today? Please round your answer to two decimals.

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