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20. Bank of America (BOA) common stock juss paid a dividend of $1.40 (D0=$1.40). What is the value of a share of BOA common stock

20. Bank of America (BOA) common stock juss paid a dividend of $1.40 (D0=$1.40). What is the value of a share of BOA common stock worth today if dividends are expected to grow at a constant rate of 6% per year (g=6%) and the required rate of return on BOA stock is 14%?

(a) $18.55 (b) $23.33 (c) $10.60 (d) $17.50 (e) $24.73

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