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QUESTION 23 A share of common stock just paid a dividend (D 0 ) of $1.50. If the expected long-run growth rate for this stock

QUESTION 23

A share of common stock just paid a dividend (D₀) of $1.50. If the expected long-run growth rate for this stock is 5%, and if investors' required rate of return is 11.5%, what is the current stock price?

1.
$17.57

2.
$24.23

3.
$17.13

4.
$18.01

5.
$16.28

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