Question $23$

$0\mathrm{.}75$ pts

Radford Inc. will be paying a dividend of $$2$ next period. The company is anticipated to have a constant growth of $3\%$ for the foreseeable future. If the cost of equity for this company is anticipated to be $6\%,$ what should be the approximate stock price today?

$$55\mathrm{.}55$

$$50\mathrm{.}00$

$$75\mathrm{.}50$

$$66\mathrm{.}47$