3.

Lohn Corporation is expected to pay the following dividends over the next four years: $13, $8, $6, and $3. Afterward, the company pledges to maintain a constant 6 percent growth rate in dividends forever. If the required return on the stock is 14 percent, what is the current share price? Multiple Choice $46.92 $45.64 O O $48.33 $54.03 O O $44.57