Hot Wings, Inc., has an odd dividend policy. The company has just paid a dividend of $8.55 per share and has announced that it will increase the dividend by $6.55 per share for each of the next four years, and then never pay another dividend.

Required:

If you require a 13.75 percent return on the companys stock, how much will you pay for a share today? (Select rounded answers as directed, but do not use the rounded numbers in intermediate calculations.)

A. $69.92

B. $ 50.74

C. $62.93

D. $99.70

E. $73.50