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A firm expects to pay an annual dividend of $1.54 per share on its stock one year from today. Based on the historical dividend payment

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A firm expects to pay an annual dividend of $1.54 per share on its stock one year from today. Based on the historical dividend payment pattern, an analyst assumed the dividend will grow at a constant rate of 2.7 percent per year indefinitely. The appropriate discount rate for this stock is 13.43 percent. What is the value of one share of this stock today? $11.47 $57.04 $11.78 $14.74 $14.35

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