Lifecycle Motorcycle Company is expected to pay a dividend in year 1 of $12.00, a dividend in year 2 of $14.50, and a dividend in year 3 of $15.75. After year 3, dividends are expected to grow at the rate of 4.5% per year. An appropriate required return for the stock is 9.5%. Using the multistage DDM, the stock should be worth today. $261.43 $285.77 $257.39 $279.84