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Distant Groves announced today that it will begin paying annual dividends next vear. Dividends for the first three years will be $2.70, $4.20, and $6.25

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Distant Groves announced today that it will begin paying annual dividends next vear. Dividends for the first three years will be $2.70, $4.20, and $6.25 a share, respectively. After that, dividends are projected to increase by 3.8 percent per year forever. What is one share of this stock worth today at a required return of 11.2 percent? A. $87 OB. $74 O C. $77 D. $84

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