Suppose the risk-free rate is 2.62% and an analyst assumes a market risk premium of 6.31%. Firm A just paid a dividend of $1.48 per share. The analyst estimates the of Firm A to be 1.27 and estimates the dividend growth rate to be 4.77% forever. Firm A has 263.00 million shares outstanding. Firm B just paid a dividend of $1.52 per share. The analyst estimates the of Firm B to be 0.74 and believes that dividends will grow at 2.70% forever. Firm B has 195.00 million shares outstanding. What is the value of Firm B?

Round to 2 decimal places.