Question: Schiller Corporation will pay a $2.66 per share dividend next year. The company pledges to increase its dividend by 5 percent per year, indefinitely. If you require a return of 10 percent on your investment, how much will you pay for the company's stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Please show steps how you get an answer and please be clear in your explanation.