$3$

Goulds Corp. pays a constant $$8\mathrm{.}45$ dividend on its stock. The company will maintain this dividend for the next $15$ years and will then cease paying dividends forever. If the required return on this stock is $13\%,$ what is the current share price? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Current share price

$