Lohn Corporation is expected to pay the following dividends over the next four years: $15, $11, $8, and $3. 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

$63.45

$65.35

$60.27

$62.04

$69.84