Lainey is examining the stock of Hods, Inc., and has been asked to estimate a future price. The firm just paid a dividend of $8.45, which is expected to grow at 2.6%, and Lainey has also calculated the required rate of return as 11.28%. If these assumptions hold, what should the stock sell for in 11 years?

Select one:

a.

$97.35

b.

$98.62

c.

$99.88

d.

$132.47

e.

insufficient information to determine

f.

$102.48