Sanders, Incorporated, 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 14% return on equity in the future, and if you require a 16% return on the stock, the value of the stock is __________. Multiple Choice $25.79 $62.76 $44.15 $88.55