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6. A company's recent dividend is S1 per share. The company expects that the dividends will grow at 10% for the next three years. After

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6. A company's recent dividend is S1 per share. The company expects that the dividends will grow at 10% for the next three years. After that the dividends will increase at 7% forever. Its stock beta is 1.0. Currently, the expected market return is 12%, and the risk-free rate is 7%. What is the present value of the common stock? a. $15.19 c. $19.61 b. $17.09 $23.15

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