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JLT Corp.'s management just announced that next year's annual dividend will be $3.60. This represents a 3.0% decline from its most recent dividend. Management also

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JLT Corp.'s management just announced that next year's annual dividend will be $3.60. This represents a 3.0% decline from its most recent dividend. Management also announced that going forward it expects to continue to reduce the stock's future payouts by 3.0%. Your required return on the stock is 14.5%. What price would you pay for a share of JLT stock? $30.37 $19.95 $24.83 $31.30 $20.52

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