Sales Company paid a $$1\mathrm{.}00$ dividend per share last year and is expected to continue to pay out $45\%$ of earnings as dividends for the foreseeable future. If the firm is expected to generate a $10\%$ return on equity in the future, and if you require a $10\%$ return on the stock, the value of the stock is

Multiple Choice

$$23\mathrm{.}44.$Correct

$$13\mathrm{.}00.$

$$16\mathrm{.}67.$

$$18\mathrm{.}67.$