A stocks next dividend is expected to be $0.56 per share and the dividends are expected to grow forever at a constant rate. Investors require a return of 9.6% per year to hold the stock. What is the stocks intrinsic value per share expected to be in three years, if the stocks current intrinsic value is $14.56 per share?

Question 14 options:

1)

$18.47

2)

$15.47

3)

$14.98

4)

$16.87

5)

$17.22