Pfizer Inc., an American multinational pharmaceutical corporation, develops a Pfizer-BioNTech COVID-19 vaccine that was 95% effective at preventing laboratory-confirmed COVID-19 illness in people without evidence of previous infection. It is expected that Pfizer will experience extremely high growth over the next seven years and will reinvest all of its earnings in expanding the company over this time. Earnings were $2.13 per share before the development of the vaccine and are expected to grow by 60% per year for the next seven years. After this time, it is expected that growth will drop to 8% and stay there for the expected future. Eight years from now Pfizer will pay dividends that are 50% of its earnings. If its equity cost of capital is 1j%, what is the value of a share of Pfizer Inc. today? $192.04 $209.04 $176.55 $165.82