Staton-Smith Software is a new start-up company and will not pay dividends for the first five years of operation. It will then institute an annual cash dividend policy of $3.25 with a constant growth rate of 3%, with the first dividend at the end of year six. The company will be in business for 25 years total. What is the stock's price if an investor wants a. a return of 11% ? b. a return of 15% ? c. a return of 24% ? d. a return of 40% ? a. What is the stock's price if an investor wants a return of 11% ? (Round to the nearest cent.)