PeteCorp's stock has a Beta of 1.32.Its dividend is expected to be $3.44 next year, and will grow by 5% per year after that indefinitely.Assume the risk-free rate is 3%, and theMarket Risk Premiumis 9%.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.

Margin of error for correct responses: +/- .05.