QUESTION 21 Top hedge fund manager Sally Buffit believes that a stock with the same market risk as the S&P 500 will sell at year-end at a price of $45. The stock will pay a dividend at year-end of $4.40. Assume that risk-free Treasury securities currently offer an interest rate of 2.0%. The historical average risk premium for the S&P 500 index is 7.8% per annum. What should be the price of the stock Sally should be willing to pay today? Round the answer to two decimal places and report it without the $ symbol