I have a question on my homework, I'm coming up with a different answer each time. Will you please be able to assist me?

Wren Corp. is expected to pay a dividend of $3.00 per year indefinitely. If the appropriate rate of return on this stock is 12 percent per year, and the stock consistently goes ex-dividend 35 days before dividend payment date, what will be the expected minimum and maximum prices surrounding the dividend payment?

First, determine the daily interest rate:

iDaily =