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Odell's One-Handed Grabs will pay a dividend of $3.40 per share next year. The company pledges to increase its dividend by 3.25 percent per year

Odell's One-Handed Grabs will pay a dividend of $3.40 per share next year. The company pledges to increase its dividend by 3.25 percent per year indefinitely. If you require a return of 9 percent on your investment, how much will you pay for the companys stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Multiple Choice

  • $67.56

  • $65.71

  • $59.13

  • $52.48

  • $71.58

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