Sports-R-Us is a large sports retailer. Last month, Sports-R-Us announced that shareholders of record on this coming Friday will receive a dividend of $3.5 per share. (Assume that the dividend will also be paid on Friday.) After this Friday, the next dividend is expected in one years time. Dividends are expected to be paid annually in perpetuity and are expected to grow at a rate of 3%. Shareholders of Sports-R-Us require an 11.5% return on equity. What is the stock price of Sports-R-Us on Wednesday and Thursday?

• $45.91, $42.41

• $65.40, $61.80

• $54.13, $52.05

• $47.18, $43.78