The current price for one share of a certain stock is 96. The stock is expected to pay dividends of 3.80 every 3 months for the next year. The annual effective rate of interest is 10%. Calculate the one year forward price of the stock, assuming that the stock is to be delivered under the contract immediately after the dividend is paid one year from today.

A.) 97.03

B.) 93.43

C.) 91.64

D.) 89.94

E.) 95.23

The answer was D. Please show how