Thirsty Cactus Corp. just paid a dividend of $1.35 per share. The dividends are expected to grow at 25 percent for the next 10 years and then level off to a 5 percent growth rate indefinitely.

Required :If the required return is 14 percent, what is the price of the stock today?

$64.02

$61.51

$2.09

$39.57

$62.77