The Island Tourist Company, Inc. just paid a dividend of $3.00 per share, and that dividend is expected to grow at a constant rate of 4.50% per year in the future. The company's required rate of return on the stock is 11.25%. 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.