You are an analyst for a large New York investment firm. You forecast that the next 4 dividends for Yun Jeong Manufacturing (YJM) will be $8.25 this year (paid later this month) and will increase by $0.75 per year to $9.00, $9.75, and $10.50 in the following 3

years. After that you forecast 4% growth in perpetuity for YJM. If the appropriate discount rate is 12%, what is your forecast for the current value of one share of YJM stock?

$ 97.16

$105.41

$120.44

$128.69

$136.50

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