3 Question 1 1 pts The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.97 per share on its stock. The dividends are expected to grow at a constant rate of 2.4 percent per year indefinitely. Investors require a return of 7.86 percent on the company's stock. What is the current stock price? Omit the $ dollar sign and commas. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)