Company Y's common stock recently paid a dividend of $1. They have traditionally grown their dividend at 2%. However, after a year of great performance, they have decided to begin growing their dividend at 3%. The price of the common stock is $14.57. If the required return on the common stock is 9%, what will the new stock price be after the change in the dividend growth rate? Responses 

$17.00 

$17.00 

$16.58 

$16.58 

$16.69 

$16.69 

$17.17