Lohn Corporation is expected to pay the following dividends over the next four years: $9, $4, $3, and $1. Afterward, the company pledges to maintain a constant 6 percent growth rate in dividends forever. If the required return on the stock is 12 percent, what is the current share price?

Multiple Choice

$25.22

$25.98

$34.02

$23.96

$25.09