Arcs and Triangles paid an annual dividend of $ 1.47 a share last month . The company is planning on paying $ 1.52 , $ 1.58 , and $ 1.60 a share over the next three years , respectively . After that , the dividend will be constant at $ 1 . 69 per share per year . What is the market price of this stock if the market rate of return is 11.6 percent ?