Parcel Corporation expects to pay a dividend of $$5\mathrm{.}45$ per share next year, and the dividend payout ratio is $50$ percent. If dividends are expected to grol at a constant rate of $8$ percent forever, and the required rate of return on the stock is $13$ percent, calculate the present value of growth opportunities.

Multiple Choice

$$76\mathrm{.}47$

$$109\mathrm{.}00$