Mike works for a prominent technology company. His company just paid a $1.50 dividend per share. The required return for his companys stock is 12%.

(Input all answers as positive values, no commas, with no symbols ex. no $ or %. Input all % answers as whole numbers without symbols ex. 10.03 for .1003. Input all final answers two decimal places out.)

If the dividend that Mikes company just paid is a perpetual dividend, what is the price of the stock today? (Hint: Zero-growth Dividend Stock)