Firm ABC has a dividend payout ratio of 70%, meaning 70% of earnings will be distributed to its shareholders as dividend. However, ABC is expected to have zero earnings in the first five years. At the end of the sixth year, its earnings are expected to be $10 per share, and expected to grow at 2% annually forever. If ABC has an equity cost of capital of 9%, what should be the stock price today? $64.99 $85.18 $92.85 $59.63