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A firm expects to pay an annual dividend of $ 1 . 8 per share on its stock one year from today. Based on the

A firm expects to pay an annual dividend of $1.8 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 1.97 percent per year indefinitely. The appropriate discount rate for this stock is 15.64 percent. What is the value of one share of this stock today?
$91.37
$13.17
$13.43
$11.51
$11.74
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