The Island Tourist Company, Inc. just paid a dividend of $2.75 per share, and that dividend is expected to grow at a constant rate of 3.50% per year in the future.The company's required rate of return on the stock is 12.00%.At what price should the company's stock sell?Note:Enter your answer rounded off to two decimal points.Do not enter $ or comma in the answer box.For example, if your answer is $123.456 then enter as 123.46 in the answer box.