Maintain this dividend-what is the current share price

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Apocalyptica Corp. pays a constant $8.60 dividend on its stock. The company will maintain this dividend for the next 11 years and will then cease paying dividends forever. If the required return on this stock is 11 percent, what is the current share price? (Round your answer to 2 decimal places. (e.g., 32.16))

Current share price $

Reference no: EM13883454

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