QUESTION 15 Bennoch Corporation is expected to pay $3 dividends per share next year (year 1) to its shareholders. Its required rate of return on equity is 10%. Dividends are expected to grow at 6% per year for year 2 through year 4, and then slow down to a steady long-term growth rate of 3% for year 5 and beyond. What should be the fair value of its stock price today? A. $6.8 B. $10.3 OC. $23.3 D. $30.1 O E. $35.9 F. $46.2 OG $52.6