You are forecasting the returns for Grouper Company, a plumbing supply company, which pays a current dividend of $9.40. The dividend is expected to grow at a rate of 2.4 percent. You have identified two public companies, Monty and Flounder, which appear to be comparable to Grouper. Monty has the same total risk as Grouper and a beta of 0.90. Flounder, in contrast, has a very different total risk but the same market risk as Grouper. Flounder's beta is 0.70. The market risk premium is 4.20 percent and the risk-free rate is 0.70 percent. Determine the price of Grouper. (Round answer to 2 decimal places, e.g. 125.61.)