Burkhardt Corp. pays a constant $13.80 dividend on its stock. The company will maintain this dividend for the next 7 years and will then cease paying dividends forever. If the required return on this stock is 9 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Share price Search

Burkhardt Corp. pays a constant $13.80 dividend on its stock. The company will maintain this dividend for the next 7 years and will then cease paying dividends forever. If the required return on this stock is 9 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.)