Stagnant Iron and Steel currently pays a $$9\mathrm{.}55$ annual cash dividend $($D$0)$

$.$ They plan 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 stockholders $($Ke$)$

is $13$ percent, what is the price of the common stock?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places. PLEASAE HELP ME GET THE ANSWER AND SHOW YOUR WORK SO I CAN UNDERSTAND HOW