Using the Gordon Growth Model described in class, answer the following questions. Ensure that your final answer is in currency form $($round your final answer, keeping two decimal places, & remember to use dollar signs and commas correctly$)$

If the required return is $6\mathrm{.}5\%,$ the growth rate of dividends is constant at $2\mathrm{.}5\%$ and the most recent dividend is $$1\mathrm{.}50$ per share. What is the current value of the stock?