Question: A company that does not currently pay dividends on its stock is expected to start paying a constant $4 dividend 7 years from today. The

A company that does not currently pay dividends on its stock is expected to start paying a constant $4 dividend 7 years from today. The company is expected to maintain this constant dividend for 8 years and then stop paying dividends forever. If the required return on this stock is 13%, what will the share price be 6 years from today?

Round the final answer to 2 decimal places.

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