Hailey Corporation pays a constant $$7\mathrm{.}40$ dividend on its stock. The company will maintain this dividend for the next $8$ years and

will then cease paying dividends forever. If the required return on this stock is $12$ percent, what is the current share price?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$