Pasqually Mineral Water, Inc., will pay a quarterly dividend per share of $1.55 at the end of each of the next 12 quarters. Thereafter, the dividend will grow at a quarterly rate of 1.5 percent, forever. The appropriate rate of return on the stock is 12 percent, compounded quarterly.

What is the current stock price? (Do not round intermediate calculations and round your answer to 2 decimal places. (e.g., 32.16))