Investors require a 12% rate of return for a share of company XYZ. Over the past 5 years, dividends have grown at an annual rate of 4%. The current dividend (Do) is 7 per share. The dividend is expected to grow to 7.70 next year, then grow at an annual rate of 6% for the following year and 5% per year thereafter. What would you be willing to pay for a share of company XYZ today? Select the answer that comes closest. (Round the final solution to 2 decimals) O 110.96 O E 87.17 117.96 0 80.17 No answer Next