You are evaluating the purchase of Bell Inc. and expect a common stock dividend of $5.06 next year, with a dividend growth rate of 10% for the following three years. You plan to hold the stock for four years and then sell it. You estimate the price of the company's stock to rise to $59.37 at the end of your four-year holding period. A required rate of return of 13% will be adequate compensation for this investment. Given your assumptions, what is your estimate of the current value of Bell stock? Round to the nearest cent. Do not include the dollar sign in your answer. (i.e. If your answer were $1.23, then type 1.23 without a S sign)