TTT Corp. paid an annual dividend of $10 last year. The company follows a dividend policy that raises dividends annually at a rate of 5% (and expects this rate to go forever). The required rate of return is 14%.

What is today's stock price?

Question 10 options:

1)

104.00

2)

100.00

3)

116.67

4)

111.11

5)

90.91

6)

93.64