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PeteCorp's stock has a Beta of 1.34. Its dividend is expected to be $3.31 next year, and will grow by 7% per year after that

PeteCorp's stock has a Beta of 1.34. Its dividend is expected to be $3.31 next year, and will grow by 7% per year after that indefinitely. Assume the risk-free rate is 4%, and the Market Risk Premium is 6%. 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.

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