Stagnant Iron and Steel Co$.$ currently pays a $$9\mathrm{.}60$ annual cash dividend $($D$0).$ It plans to maintain the dividend at this level for the foreseeable future, as no future growth is anticipated.

If the required rate of return by common shareholders $($Ke$)$ is $22$ percent, what is the price of each common share? $($Round the final answer to $2$ decimal places.$)$

Price of common share $