Answer The dividends of a common stock are expected to be 1 at the end of each of the next 3 years and 4 for each of the following 10 years. The dividends are expected to grow at a fixed rate of 2% per year thereafter. Assume an annual effective interest rate of 89%. Calculate the price of this stock using the dividend discount model. O A. 22 B. 36 C.49 D. 57 E. 66