Expected Price $-$ Dividend Growth.

You are evaluating the purchase of Lowe's stock. It just paid an annual dividend of $$4\mathrm{.}40.$ You expect the dividend to grow at a rate of $9\mathrm{.}0\%$ a year, indefinitely. You estimate that the required rate of return of $10\mathrm{.}91\%$ will be adequate compensation for this investment.

Assuming that your analysis is correct, what is the most that you would be willing to pay for this stock if you were to purchase it today $(P_0)?$

a$.$ $$284\mathrm{.}56$

b$.$ $$251\mathrm{.}10$

c$.$ $$170\mathrm{.}48$

d$.$ $$74\mathrm{.}95$

e$.$ $$53\mathrm{.}85$