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UTA Inc just announced that next year's dividend will be $1.40 per share, and the following year will be $1.50 per share. After that point,

UTA Inc just announced that next year's dividend will be $1.40 per share, and the following year will be $1.50 per share. After that point, stock analysts believe the dividend growth rate will remain constant at 5% per year, indefinitely. If the market currently requires a 15% rate of return on UTA Inc stock, the stock should be priced at __________per share.

A-$18.1

B-$14.26

C-$12.71

D-$11.91

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