$($Related to Checkpoint $10\mathrm{.}1)($Common stock valuation$)$ Header Motor, Inc., paid a $$3\mathrm{.}23$ dividend last year. At a constant growth rate of $3$ percent, what is the value of the common stock if the investors require a $12$ percent rate of return?

The value of the common stock is $

$($Round to the nearest cent.$)$