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Last year, XYZ Company paid a dividend of $3.40. It expects zero growth in the next year. In years 2 and 3,5% growth is expected,

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Last year, XYZ Company paid a dividend of $3.40. It expects zero growth in the next year. In years 2 and 3,5% growth is expected, and in year 4, 15% growth. In year 5 and thereafter, growth should be a constant 6% per year. What is the maximum price per share that an investor who requires a return of 11% should pay for XYZ common stock? Select one: O a. $68.15 O b. $73.63 c. $69.91 d. $71.74

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