Problem 7-3-1 Constant Growth Valuation Woidtke Manufacturing's stock currently sells for $32.50 a share. The stock just paid a dividend of $1.04 a share (i.e., D0 = $1.04), and the dividend is expected to grow forever at a constant rate of 7.05% a year. What stock price is expected 1 year from now? Round your answer to two decimal places. For example, if your answer is $345.6671 round as 345.67 and if your answer is .05718 or 5.7182% round as 5.72.