Question 3 (2 points) Company A will be reducing its annual dividend by 2.0% a year for the next 2 years. After that, it will pay a dividend of $.77 a share, growing each year thereafter by 3.0%. This dividend stream with 3.0% growth per year is expected to last for 50 years (until the end of year 52), at which point each share can be exchanged for $18.00. The company recently paid a dividend of $1.97 per share. What is this stock worth given a 7.0% required rate of return? The stock is worth $6.18. The stock is worth $18.30. The stock is worth $28.14. The stock is worth $38.50