PeteCorp's stock has a Beta of 1.21. Its dividend is expected to be $2.77 next year, and will grow by 4% per year after that indefinitely. Assume the risk-free rate is 4%, and the Market Risk Premium is 8%. The stock price would currently be estimated to be $________. Round your FINAL answer to 2 decimal places (example: 12.3456 = 12.35), but do NOT round any intermediate work.