Problem $8-1$ Stock Values $($LO$1)$

The Stopperside Wardrobe Co$.$ just paid a dividend of $$1\mathrm{.}83$ per share on its stock. The dividends are expected to grow at a constant rate of $7\mathrm{.}9\%$ per year indefinitely. If investors require an $12\mathrm{.}9\%$ return on The Stopperside Wardrobe Co$.$ stock, answer the following: $($Do not round intermediate calculations. Round the final answers to $2$ decimal places. Omit $ sign in your response.$)$