ABC Inc is losing significant market share and thus its managers have decided to decrease the firm's annual dividend. The company will pay next year an annual dividend of $0.86 a share but all future dividends will be decreased by 3.5 percent annually. What is a share of this stock worth today at a required return of 17.8 percent?

		$4.04
		$3.95
		$3.06
		$3.59
		$3.90