Top hedge fund manager Diana Sauros believes that a stock with the same market risk as the S&P 500 will sell at year-end at a price of $43. The stock will pay a dividend at year-end of $3.00. Assume that risk-free Treasury securities currently offer an interest rate of 1.8%. Average rates of return on Treasury bills, government bonds, and common stocks, 1900-2013 (figures in percent per year) are as follows. What is the discount rate on the stock? (Enter your answer as a percent rounded to 2 decimal places.) What price should she be willing to pay for the stock today? (Do not round intermediate calculations. Round your answer to 2 decimal places.)