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Jay-Cee is expected to pay its first dividend of $0.20 in 2025.The dividend is then anticipated to increase at a constant 3% p.a. indefinitely.If the

Jay-Cee is expected to pay its first dividend of $0.20 in 2025.The dividend is then anticipated to increase at a constant 3% p.a. indefinitely.If the required return is 8%, what is a fair value of Jay-Cee in 2019?

a. $4.00

b. $2.72

c. $3.45

d. $2.94

e.$3.70

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