Fake Company Pi just paid a large dividend to common shareholders of $3.66. Company executives also announced a plan to keep the dividend growing at 3.3% for the foreseeable future. If your required return on equity investments is 10.8%, what is an appropriate price for you to pay for this stock?
Enter your answer rounded to the nearest second decimal, just like a regular stock price. Do not use dollar signs, percent signs, or commas.