Question $6$

A stock just paid a dividend of $$0\mathrm{.}5,$ has a required return of $13\%,$

and a constant dividend growth rate of $2\%.$ What should this

stock be selling for? Enter the answer as a whole number with $2$

decimal places and without signs. For example, if the answer is

$$20\mathrm{.}16,$ enter $20\mathrm{.}16.$ If the answer is $\mathrm{.}1075$ or $10\mathrm{.}75\%,$ enter

$10\mathrm{.}75.$