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Connolly Co . ' s expected year - end dividend is D 1 = $ 2 . 7 5 , its required return is r

Connolly Co.'s expected year-end dividend is D1=$2.75, its required return is rS=11.00%, its dividend yield is 6.00%, and its growth rate is
expected to be constant in the future. What is Connolly's expected stock price in 7 years, i.e., what is hat(P)7?
Select the correct answer.
a. $64.97
b. $63.05
c. $63.53
d. $64.01
e. $64.49
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