Red Sun Rising just paid a dividend of $2.34 per share. The company said that it will increase the dividend by 20 percent and 15 percent over the next two years, respectively. After that, the company is expected to increase its annual dividend at 4.2 percent. If the required return is 11.2 percent, what is the stock price today?

rev: 03_31_2022_QC_CS-301591

Multiple Choice

$44.01

$41.40

$38.87

$42.70

$15.00