You expect a stock to pay annual dividends of $2.82, $1.15, and $2.30 in each of the next three years, with the first dividend payment occurring one year from today. You also expect a stock price of $47.70 immediately after the stock pays the third annual dividend (i.e., exactly three years from today). If the stock's required rate of return is 11%, what is a fair price for the stock today? Round your answer to the nearest penny