Because they love going to the movies, two friends, Camryn King and Yvonne Crawford, want to buy shares of AMC Entertainment Holdings Inc. (ticker symbol: AMC). Camryn and Yvonne require a return of 8.6%. Last month, AMC paid an annual dividend of $1.60 per share and the movie theater operator expects future dividends to grow by 3.20% per year. How much will Camryn and Yvonne be willing to pay today for one share of AMC?

Multiple Choice

$30.58

$51.60

$32.18

$50.00

$28.98