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Langley Enterprises pays a constant dividend of $1.40 a share. The company announced today that it will continue to with this for another 2 years

Langley Enterprises pays a constant dividend of $1.40 a share. The company announced today that it will continue to with this for another 2 years after which time it will discontinue paying dividends permanently. What is one share of this stock worth today if the required rate of return is 7 percent?

A. $2.80

B. $2.29

C. $2.53

D. $3.77

E. $4.02

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