OwenInc has a current stock price of

$14.70

and is expected to pay a

$0.90

dividend in one year. If OwenInc's equity cost of capital is

11%,

what price would OwenInc's stock be expected to sell for immediately after it pays the dividend?

A.

$16.32

B.

$15.42

C.

$12.34

D.