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A stock is currently priced at $ 1 2 0 . 5 0 per share. The stock expects to pay its annual dividend one year

A stock is currently priced at $120.50 per share. The stock expects to pay its annual dividend one year from today. Investors require a rate of return of 15 percent on this stock and the stocks dividends grow at a constant rate of 4.8 percent per year. How much is next years expected dividend if the stock is correctly priced?
$9.92
$12.29
$11.73
$10.91
$13.39

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