Sanders, Inc., paid a $5 dividend per share last year and is expected to continue to pay out 70% of its earnings as dividends for the foreseeable future. If the firm is expected to generate a 12% return on equity in the future, and if you require a 14% return on the stock, the value of the stock is Multiple Choice O $49.81 O $67.35 O $96.79 $29.43