QUESTION $17$

Dividend Policy

The HNH Corporation will pay a constant dividend of $$4$ per share, per year, in perpetuity. Assume all investors pay a $22\%$ tax on dividends and that there is no capital gains tax. The cost of capital for investing in $HNH$ stock is $15\%.$

What is the price of a share of HNH stock?

Round your answer to one decimal, do not use $ sign