A company just paid a $1.60 per share annual dividend. The company is planning on paying $3.00, $3.15, $3.25, and $3.40 a share over the next 4 years, respectively. After that, the dividend will be a constant $3.45 per share per year.What is this stock worth to you per share if you require a 11.50% rate of return?

Question 21 options:

$27.72

$28.45

$29.18

$29.91

$30.64