You expect a stock to pay a dividend of $1.83 exactly one year from now, and you expect its price to be $38.36 immediately after the dividend is paid. Suppose the stock has a beta of 1.4, the current T-Bill rate is 2%, and the expected return on the overall stock market this year is 8%. If the stock market is efficient and the CAPM holds, what is a fair price for the stock today? Round your answer to the nearest penny.