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Hirshfeld Corporation's stock has a required rate of return of 10.25%, and it sells for $65.00 per share. The dividend is expected to grow at

Hirshfeld Corporation's stock has a required rate of return of 10.25%, and it sells for $65.00 per share. The dividend is expected to grow at a constant rate of 6.00% per year. What is the expected year-end dividend, D₁?

Select the correct answer.

a. $2.76

b. $2.96

c. $2.56

d. $2.36

e. $3.16

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