A stock recently paid a $$1\mathrm{.}20$ dividend, expected to grow at $3\%$ for the foreseeable future If the required return on the stock is $11\%,$ what is the intrinsic value of the stock?

$$15\mathrm{.}45$

$$21\mathrm{.}22$

$$36\mathrm{.}21$

$$16\mathrm{.}97$

none of these