Problem: Pharsalus Inc. just paid a dividend (i.e., D0) of $ 3.40 per share. This dividend is expected to grow at a rate of 6.4 percent per year forever. The appropriate discount rate for Pharsalus's stock is 10.2 percent. What is the price of the stock? (Round your answer to 2 decimal places and record your answer without dollar sign or commas).