Question: Hailey Corporation pays a constant $ 1 4 . 8 0 dividend on its stock. The company will maintain this dividend for the next 7

Hailey Corporation pays a constant $14.80 dividend on its stock. The company will maintain this dividend for the next 7 years and will then cease paying dividends forever. If the required return on this stock is 12 percent, what is the current share price?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.
Share price
Hailey Corporation pays a constant $14.80 dividend on its stock. The

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