e 2: Hour Spy, Inc. just paid a dividend of $12.10 per share (i.e., Do = 12.10). The company's dividend payment is expected to grow at a rate of 3.25% per year from year 1 to infinity. If the stock of Hour Spy, Inc. has an expected rate of return of 18.5%, what is the equilibrium price of the company's stock? 3: 1) $70.88 2) $79.37 3) $75.15 4) $81.92 5) $68.38