Gruber corp pays a constant 710 dividend on its stock the, Financial Management

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Gruber corp pays a constant 710 dividend on its stock the

Gruber Corp. pays a constant $7.10 dividend on its stock. The company will maintain this dividend for the next 10 years and will then cease paying dividends forever. If the required return on this stock is 11 percent, what is the current share price? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

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