Assume a mature firm is growing at a constant rate of 3% (just above the growth rate in the overall U.S. economy. Sales, profits and dividends are growing at this constant rate. If the most recent dividend was $8.95 per share, what is the value of the stock today if the required rate of return is 7.4%?

Choose from the following possible answers:

203.41

189.47

209.51

124.57

307.28