Joker stock has a sustainable growth rate of 6 percent, ROE of 11 percent, and dividends per share of $2.03. If the P/E ratio is 20.5, what is the value of a share of stock? (Do not round intermediate...

Joker stock has a sustainable growth rate of 6 percent, ROE of 11 percent, and dividends per share of $2.03. If the P/E ratio is 20.5, what is the value of a share of stock?(Do not round intermediate calculations.

Round your answer to 2 decimal places.)