9.

You are planning to invest in common stock of Company B. Lately, the firm paid a dividend of $7.80. You have projected that the dividends will grow at a rate of 9.00% per year indefinitely. If you want an annual return of 24.00%, what is the most you should pay for a stock now?

A) $52.00

B) $56.68

C) $32.50

D) $35.43

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Show your calculations please.

I need answer with clear explanation then i will give you thumbs up in return. Direct answer will have thumbs down from me.

Please attempt these questions only when you know the solutions for sure. These are really important for me.