Quantitative Problem $1$: Hubbard Industries just paid a common dividend, $D_0,$ of $$1\mathrm{.}00.$ It expects to grow at a constant rate of $3\%$ per year. If investors require a $12\%$ return on equity, what is the current price of Hubbard's common stock? Do not round intermediate calculations. Round your answer to the nearest cent.

$ per share