Assume that a share of stock has just paid an annual dividend of $3.00 ()and that this dividend is expected to grow by $0.07 in each future year (, $3.07 in Year 1. $3.14 in Year 2. $3.21 in Year 3, etc.)Also assume that investors require a 16.0 percent rate of return is. Given this information and using the Banko growth model. determine what the current price of this stock should be