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Stock C is recovering from several years of losses, during which its dividend was cut to $ . 5 0 per year. The company is

Stock C is recovering from several years of losses, during which its dividend was cut to $.50 per year. The company is expected to increase dividends by $.50 per year for four years (DIV1=$2.00, DIV 2=$2.50,DIV3=$3.00, DIV 4=$3.50). Thereafter dividends are not expected to grow or decline The cost of capital is 9.5%. How much is Stock C worth today (exdividend)?
23.73
34.26
30.00
43.04
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