Suppose Pale Hose, Inc. has just paid a dividend of $1.55 per share. Sales and profits for Pale Hose are expected to grow at a rate of 7.5% per year. Its dividend is expected to grow by the same amount. If the required return is 15%, what is the value of a share of Pale Hose? 1) $25.20 O2) $22.22 3) $27.90 4) $32.40 5) $20.93