(Answered) Gruber corp pays a constant 740 dividend on its stock the

Finance

Gruber Corp. pays a constant $7.40 dividend on its stock. The company will maintain this dividend for the next 8 years and will then cease paying dividends forever. The required return on this stock is 12 percent.

What is the current share price? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

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