Acme paid a $2-per-share dividend yesterday. Its dividends are expected to grow at 1% indefinitely.

Using the table below, what is the maximum that an investor should be willing to pay for the share of common stock?

Table below to be used with problem #4 below

Variable	Value	Explanation
Dividend growth estimate	2% 1%	Over first two years, and Indefinitely afterwards
Current dividend	$1.00	Dividend declared on 4/19/22 to be paid to shareholders on record as of 4/28/22
Beta coefficient	2.0	Current estimate
Expected market return	12.0%	Historical arithmetic average (annual) return on the S&P 500 Index
RFR	5.0%	10 year Treasury bond yield