You want to buy a few shares of stock of Merry-Go-Round Corporation. You need a 10.6 percent rate of return to compensate for the perceived risk. What is the maximum you are willing to spend per share to buy this stock if the company pays a constant $4.16 annual dividend per share with the first one paid 9 years from today? (Do NOT use "$" in your answer. Round your answer to TWO decimal places, for example, 10.23. For any intermediate calculations increase decimal places from 2 to 6 or higher.)