X-Ray Inc. recently paid its annual dividend of $1.37, and reported an ROE of 9%. The firm pays out 50% of earnings as dividends. Based on your analysis, you estimate that the stock has a required return of 16%. What is the intrinsic value of this stock? DO NOT ENTER THE \$ SIGN. ALSO, ENTER YOUR ANSWER AS A POSITIVE NUMBER. SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO TWO DECIMAL PLACES AT THE END, i.e. IF YOUR ANSWER IS 33.4348 ENTER ITAS 33.48 ONLY