ABC Corp. issued a dividend of $3.25 this year. Assume this dividend will grow at an annual percentage of 20% each year for next 3 years, and that it will thereafter grow by 4.4% each year indefinitely afterwards. Assuming the discount rate of 11.2%, what is the market value of ABC Corp.s stock under the Dividend Growth Model?

Group of answer choices

$74

$59

$72

$57