TCL Motor Company just paid a dividend of $2.10. It is The company is expected to grow the dividend at a rate of 10 percent next year, 8 percent for the following two years, and then a constant growth rate of 5 percent thereafter. The cost of equity capital for the company is 11 percent. What is the stock value?

TCL Motor Company just paid a dividend of $2.10. It is The company is expected to grow the dividend at a rate of 10 percent next year, 8 percent for the following two years, and then a constant growth rate of 5 percent thereafter. The cost of equity capital for the company is 11 percent. What is the stock value?

$43.23

$38.32

$40.55

$42.88