$($Ref$.$ Unit $5$ Exercise $3)$ A company just paid a dividend of $$2\mathrm{.}50$ per

share on its stock. The dividends are expected to grow at a constant

rate of $3\%$ per year forever. Investors expect to earn a $9\%$ return on the

company's stock. What is the price of the stock today $(t=0)?$

Note: Write your answer with $2$ or more decimal places.