Gruber Corp Pays A Constant 7 40 Dividend On Its Stock The Company Will Maintain

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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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