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Kettle Korn, Inc., just paid a $1.40 per share annual dividend. The company is planning on paying $1.50, $1.65, $1.90, and $2.00 a share over

Kettle Korn, Inc., just paid a $1.40 per share annual dividend. The company is planning on paying $1.50, $1.65, $1.90, and $2.00 a share over the next 4 years, respectively. After that, the dividend will be a constant $2.25 per share per year. What is the market price of this stock if the market rate of return is 12 percent?

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