Question 2 XYZ recently paid its ordinary shareholders a $1.62 half-yearly dividend. The company expects dividends to grow at a steady rate of 6.9% p.a. indefinitely If XYZ's shareholders expect a 11.8% p.a. rate of return on their investment, what is the market price of XYZ shares? (Express your answer in dollars to two decimal places. Omit the $ sign.)