Apocalyptica Corporation is expected to pay the following dividends over the next four years: $6.80, $17.80, $22.80, and $4.60. Afterwards, the company pledges to maintain a constant 5.75 percent growth rate in dividends, forever.
Required:
If the required return on the stock is 8 percent, what is the current share price? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Current share price $