A stock expects to pay dividends of $5.38 per share one year from today. The dividend is expected to grow at a constant rate of 4.50 percent per year in perpetuity. Investors require a rate of return of 12 percent on this stock. What should the price of one share of the stock be today?

Group of answer choices

a.$71.73

b.$83.47

c.$80.38

d.$77.89

e.$74.96