verizon paid a dividens of $10.00 per share yesterday. The company announced they plan to increase their dividen by $1.00 per share for each of the next 3 years. After that, they plan to keep their dividend at $13.00 per share forever. The variance of verizon stock is .49, the variance of the market is .0625 and the correlation between verizon's stock and the market is .5; the risk free rate is 3% and market risk premium 5.7%. Verizon has 100 million shares of stock outstanding and $50 million of debt. the YTM for debt is 8%. use the dividend discount model to find the price per share of verizon's stock