$1-$ Show Boat Dinner Theatres has paid annual dividends of $$0\mathrm{.}32,$ $$0\mathrm{.}48,$ and $$0\mathrm{.}60$ a shareover the past three years, respectively. The company now predicts that it will maintain aconstant dividend since its business has leveled off and sales are expected to remain relativelyflat. Given the lack of future growth, you will only buy this stock if you can earn at least a $16$percent rate of return. What is the maximum amount you are willing to pay for one share ofthis stock today?