Pioneer Tours is a tourist company which specializes in tours of the Old West. The firm has seen a marked decline in its business and expects to see its dividends decline by 3 percent each year indefinitely. Last year, the firm paid a dividend of $.20 a share. The discount rate is 16 percent. How much should you be willing to pay per share to purchase some of Pioneer's stock?

$1.02

$1.05

$1.41

$1.46

$1.58

?