Antiques R Us is a mature manufacturing firm. The company just paid a dividend of $$12,$ but management expects to reduce the payout by $9$ percent per year indefinitely.

If you require a return of $15$ percent on this stock, what will you pay for a share today?

Multiple Choice

$$45\mathrm{.}95$

$$45\mathrm{.}05$

$$50\mathrm{.}00$

$$182\mathrm{.}00$

$$45\mathrm{.}50$