Alpha Inc. today expects to earn $6 per share (i.e., fixed) for each future operating period beginning at year 1, assuming the firm makes no new investments and pays out all earnings as dividends. However, the CEO has discovered an opportunity to retain and invest 35% of earnings, beginning 2 years from today. The opportunity to invest will continue for each year thereafter, indefinitely. The new investment is expected to earn an 11% return, beginning one year after each investment is made. The firm's cost of equity is 10%. What would be the price of Alpha stock if the new investment opportunity is expected to be taken up? O $60.21 $63.10 O $62.82 $60.00 $63.41