ANSWER IS INCORRECT. Please show your work so I know what I did wrong. I will only give a thumbs up if work is shown. Answer can be solved using formula, Excel, or a financial calculator. Thank you!

16. Staal Corporation will pay a $2.90 per share dividend next year. The company pledges to increase its dividend by 4 percent per year indefinitely. If you require a return of 11 percent on your investment, how much will you pay today for one share of the company's stock? (Round your answer to 2 decimal places. (e.g., 32.16)) NOTE: Dividends are payments made to shareholders. In general, the payments are assumed to be quarterly unless otherwise stated (as in this problem). In this problem the dividend is annual and grows at a constant rate in perpetuity. 4% +4% +3%= 11% 12 + 12 +9= 33 months to get to 11% ror I/Y = 4% t or N = 33 PMT =$2.90 PV = 0 FV= ? Calculate 33 N = 4I/Y 0 PV = 2.90 PMT + CPT FV Answer = -$192.01 $192.01