Question 20 (5 points) Francis Firm is expected to pay a dividend of $1.25 at the end of the first year, and that dividend is expected to grow at a constant annual rate of 6% in future. The firm's beta is 1.15, market risk premium is 5.50%, and risk-free rate is 4%. What is its current stock price? 1) $29.62 2) $31.90 3) $28.90 4) $30.36 5) $31.12