Pharsalus Inc. just paid a dividend $($i$.$e$.,$ D$0)$ of $$2\mathrm{.}07$ per share. This dividend is expected to grow at a rate of $3\mathrm{.}6$ percent per year forever. The appropriate discount rate for Pharsalus's stock is $15\mathrm{.}2$ percent. What is the price of the stock? $($Round your answer to $2$ decimal places and record your answer without dollar sign or commas$).$

Your Answer:

Answer