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New Gadgets, Inc., currently pays no dividend but is expected to pay Its first annual dividend of $5.20 per share exactly 7 years from today.

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New Gadgets, Inc., currently pays no dividend but is expected to pay Its first annual dividend of $5.20 per share exactly 7 years from today. After that, the dividends are expected to grow at 4.1 percent forever. If the required return is 11.9 percent, what is the price of the stock today? O $52.38 $39.62 O $33.96 O $66.67 O $30.35

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