US Parcel Inc has 5400 shares of stock outstanding and a current stock price of $10.50 per share. The company has no debt. The company is currently short on cash and announces that instead of a cash dividend they will pay the following stock dividend to all shareholders: one new share of stock for each 5 shares held.

What will the new price per share if US Parcel be after the stock dividend goes into effect. $

Place your answer in dollars and cents without the dollar sign