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Furniture and More just paid an annual dividend of $2.60 a share. The company plans to increase its dividend by 2 percent, 3 percent, and

Furniture and More just paid an annual dividend of $2.60 a share. The company plans to increase its dividend by 2 percent, 3 percent, and 4 percent a year for the next 3 years, respectively. After that, the growth rate will be constant at 2.5 percent per year. What is one share of this stock worth to you today if you require a 16 percent rate of return? $16.67 $19.95 $17.46 $18.05

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