Hailey Corporation pays a constant $$8\mathrm{.}90$ dividend on its stock. The company will

maintain this dividend for the next $12$ years and will then cease paying dividends forever.

The required return on this stock is $11$ percent. What is the current share price? $($Do not

round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,$

$32\mathrm{.}16.)$

Answer is complete but not entirely correct.