Lohn Corporation is expected to pay the following dividends over the next four years: $12, $9, $6, and $5. Afterward, the company pledges to maintain a constant 6 percent growth rate in dividends forever.

If the required return on the stock is 14 percent, what is the current share price?

Multiple Choice

$65.60

$61.23

$60.50

$68.87

$63.69