You expect a stock to pay annual dividends of $2.50 and $3.82 in each of the next two years, with the first dividend payment occurring one year from today. You also expect a stock price of $35 immediately after the stock pays the second annual dividend (i.e., exactly two years from today). If the stock's required rate of return is 8.5%, what is a fair price for the stock today? Round your answer to the nearest penny.