6. Al-Quds university pays a $1.00 dividend. This dividend is expected to grow at a 5% rate for the next 2 years and the shares are expected to trade at 2% yield at the end of this 2-year period. If an investor requires 10% return on such shares, what is the price or the value of the share.

a.

$52.50

b.

$47.32

c.

$45.17