Question $3$

Suppose, common stock of a firm pays a constant annual dividend of $$4\mathrm{.}80$ per share. What is one share of this stock worth at a discount rate of $13\mathrm{.}3$ percent?

$$65\mathrm{.}26$

$$40\mathrm{.}89$

$$57\mathrm{.}60$

$$36\mathrm{.}09$