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The JRN Corporation will pay a constant dividend of $4 per share per year in perpetuity. Assume that all investors pay a 20% tax on

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The JRN Corporation will pay a constant dividend of \$4 per share per year in perpetuity. Assume that all investors pay a 20% tax on dividends and that there is no capital gains tax. The cost of capital for investing in JRN stock is 12%. The price of a share of JRN's stock is closest to: A. $32.00 B. $21.33 C. $53.33 D. $26.67

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