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Kellner Motor Co . ' s common stock has a required rate of return of 1 1 . 5 0 % . The stock has

Kellner Motor Co.'s common stock has a required rate of return of 11.50%. The stock has paid a constant dividend of $1.5 per share, and the firm has no plan to change their dividend policy. You estimate the stock price in 4 years to be $25.00 per share. What is the maximum price you are willing to pay for this stock nowKellner Motor Co.'s common stock has a required rate of return of 11.50%. The stock
has paid a constant dividend of $1.5 per share, and the firm has no plan to change
their dividend policy. You estimate the stock price in 4 years to be $25.00 per share.
What is the maximum price you are willing to pay for this stock now?
$22.27
$23.40
$21.16
$19.50
$20.78
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