Last year, Kirkland paid an annual dividend of $3.20 per share. The company has been reducing the dividends by 5 percent annually. How much are you willing to pay to purchase stock in this company if your required rate of return is 12 percent? Select the choice that is closest to your answer. $10.52 $13.09 $16.94 $17.88 Question 14 1 pts Fortnum announced today that it will begin paying annual dividends next year. The dividend will be $0.12,$0.15,$0.20,$0.50, and $0.75 a share annually for the next 5 years, respectively. After that, dividends are projected to increase by 2 percent per year. How much are you willing to pay to buy one share of this stock today if your desired rate of return is 7 percent? Select the choice that is closest to your answer. $12.17$12.23$12.45$12.78