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You expect GDL to have $2.99 profits per share next year, and you expect the company's profits will grow at a constant rate of 2%

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You expect GDL to have $2.99 profits per share next year, and you expect the company's profits will grow at a constant rate of 2% per year for the foreseeable future. You will only invest in GDL if you can expect a return of 8% per year on your investment What is the most you would be willing to pay for a share of GDL today? Round your answer to 2 decimals, for example, 100.21

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