BioScience Inc. will pay a common stock dividend of $5.20 at the end of the year ( D 1 ). The required return on common stock ( K e ) is 14 percent. The firm has a constant growth rate (g) of 7...

BioScience Inc. will pay a common stock dividend of $5.20 at the end of the year (D
₁). The required return on common stock (K_e
) is 14 percent. The firm has a constant growth rate (g) of 7 percent.

Compute the current price of the stock (P
₀).
(Do not round intermediate calculations. Round the answer to 2 decimal places.)