Growing, Inc. is a firm that is experiencing rapid growth. The firm yesterday paid a dividend of $3.70. You believe that dividends will grow at a rate of 21.0% per year for three years, and then at a rate of 10.0% per year thereafter. You expect that the stock will sell for $127.69 in three years. You expect an annual rate of return of 17.0% on this investment. If you plan to hold the stock indefinitely, what is the most you would pay for the stock now?

Question 23 options:

	$91.60
	$66.84
	$76.19
	$56.45
	$82.48