In the most basic sense, finance is concerned with the process through which funds are transferred from savers to borrowers. Savers, or A units, are those households, businesses, and governments whose income exceeds their consumption. Borrowers, or A units, are those households, businesses, and governments whose consumption exceeds their income.

The stock of Robotic Atlanta Inc. is trading at \$28.54 per share. In the past, the firm has paid a constant dividend (i.e., g=0 ) of $5.96 per share and it has just paid an annual dividend (i.e., DO =5.96 ). However, the company will announce today new investments that the market did not know about. It is expected that with these new investments, the dividends will grow at 3.2% forever. Assuming tha the discount rate remains the same, what will be the price of the stock after the announcement? (Round your answer to 2 decimal places and record your answer without dollar sign or commas)