A stock just paid its annual dividend of $5.59 per share. The dividend is expected to grow at a rate of 25 percent per year for 7 years. Thereafter, the dividend growth rate is expected to be 4 percent per year in perpetuity. The expected return on the stock is 15 percent. Find the expected price of the stock 10 years from now.

Group of answer choices

$241

$283

$309

$155

$187