Show Boat Dinner Theaters has paid annual dividends of $0.32, $0.48 and $0.60 per share for the past three years, respectively. The company now predicts that it will maintain a steady dividend as its business has stabilized and sales are expected to remain relatively flat. Given the lack of future growth, you'll only buy this stock if you can earn at least a 16% rate of return. What is the maximum amount you are willing to pay today for a share of these shares?

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