method is not as somple as 1.30/.10 as my last turor suggested. use the correct method

Quantitative Problem 2: Carlyle Corporation has perpetual preferred stock outstanding that pays a constant annual dividend of $1.30 at the end of each year. If investors require an 8% return on the preferred stock, what is the price of the firm's perpetual preferred stock? Round your answer to the nearest cent. Do not round intermediate calculations, per share Nonconstant Growth Stocks