A stock is expected to pay a $2.50 dividend at the end of the year (i.e., D1 = $2.50). The dividend is expected to grow at a constant annual rate of 6%. The required return on the stock is 10%. What is the expected stock price 8 years from today -- that is, what is P8? Use the dividend discount model.

$99.62

$133.97

$105.59

$104.86

$65.79