Bizer's dividend next year will be $1 with 20% probability, $4 with 30% probability and $6 with 50% probability. Once the dividend is realized next year it will remain at the value for every year in the future. If the CAPM-implied return is 11%, what price should the stock be trading at?

Question 18 options:

	$20
	$54.54
	$33.33
	$40