7. In one year, Hitech Microdevices will pay a common stock dividend of $4.35. Youpredict that you will be able to sell your Hitech stock for $57 per share after 1 year. Ifyou require a rate of return of 16 percent on Hitech stock, how much would you be

willing to pay now for a share of the stock?

a) $45.39 c) $49.14 e) $53.49 b) $52.89 d) $71.17