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k t ces Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next seven years, because

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k t ces Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next seven years, because the firm needs to plow back its earnings to fuel growth. The company will then pay a dividend of $14.25 per share 8 years from today and will increase the dividend by 6 percent per year thereafter. If the required return on this stock is 14 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.. 32.16.) Current share price - $ 188.81

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