You own a stock in Parham, Inc. The shares are currently worth $$58\mathrm{.}15.$ The firm just announced a dividend of $$3\mathrm{.}45$ per share. You live in a world where personal income $($including dividends$)$ is taxed at $35\%$ and capita; gains are taxed at $15\%.$ Traditionally, we would expect the share price to drop to $$54\mathrm{.}70.$ But, according to Elton & Gruber $(1970),$ the dividend will not fall by the full amount of the dividend. According to their proposition, what will be the share price after the dividend? $($The answer is in dollars, round your answer to two decimal places, e$.$g$.64\mathrm{.}75)$