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Last year Howard's Jeans Co. paid a dividend of $0.79. You anticipate that the company's growth rate is 7 percent and has a required rate

Last year Howard's Jeans Co. paid a dividend of $0.79. You anticipate that the company's growth rate is 7 percent and has a required rate of return of 12 percent for this type of equity investment. What is the maximum price you would be willing to pay for the stock?

CHOICES:

$20.19
		$14.77
		$16.91
		$18.72
		$24.48

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