Joven Corp. is a young start-up company and therefore is not paying any dividends on the stock over the next 9 years. The company will start paying a $3 per share dividend at the end of year 10 and thereafter it will increase the dividends by 3% per year forever. If the required rate of return on this stock is 9%, what is the current (today's) share price?

Question 12 options:

33.33

21.12

23.02

50.00