Question: Teal Corp. has been having trouble. The last dividend was $ 2.83, and it's projected to fall 4% per year indefinitely. If the required return

Teal Corp. has been having trouble. The last dividend was $ 2.83, and it's projected to fall 4% per year indefinitely. If the required return is 6%, what is Teal Corp.'s stock price?

Teal Corp.'s stock price is $___.

(Round to the nearest cent.)

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