PIN Ltd is a firm that has been underperforming for many years and has just had a change in management. The new management team have just made an announcement that they will pay a dividend today of $6, and they expect that in the future this annual dividend will grow at a constant rate of 6% per annum. The required rate of return for PIN Ltd shares is 14% per annum. Which of the following is closest to the current value of PIN Ltd shares? (note you have not yet received todays dividend).

Group of answer choices

$57.00

$79.50

$85.50

$46.40