MECCS Inc. stock paid its annual dividends of $7.20 per share yesterday. The dividend is expected to decrease at a constant rate of 3 percent per year indefinitely. Investors require a rate of return of 9.20 percent on the stock. How much should one share of the stock be priced today?

Group of answer choices

$57.25

$119.61

$63.54

$112.65

$60.79