You are an investor that wants to buy $1$ share of ABC Corporation's stock. You expect to sell the stock at the end of year $3$ for a price of $$60.$ In the first year, you are expected to receive a dividend of $$4$ per share. The dividend payment is expected to grow by a rate of $3\%$ every year. If the equity cost of capital is $6\%$ which of the following correctly describes how much you would be willing to pay for $1$ share of ABC corporation's stock?

A$.P_0=\frac{\text{\$}4}{(1+0\mathrm{.}06)}+\frac{\text{\$}4}{(1+0\mathrm{.}06{)}^2}+\frac{\text{\$}4}{(1+0\mathrm{.}06{)}^3}+\frac{\text{\$}60}{(0\mathrm{.}06-0\mathrm{.}03{)}^3}$

B$.P_0=\frac{\text{\$}4}{(1+0\mathrm{.}06)}+\frac{\text{\$}4\mathrm{.}12}{(1+0\mathrm{.}06{)}^2}+\frac{\text{\$}4\mathrm{.}2436}{(1+0\mathrm{.}06{)}^3}+\frac{\text{\$}60}{(1+0\mathrm{.}06{)}^3}$

C$.P_0=\frac{\text{\$}4}{(1+0\mathrm{.}06)}+\frac{\text{\$}4\mathrm{.}12}{(1+0\mathrm{.}06{)}^2}+\frac{\text{\$}4\mathrm{.}2436}{(1+0\mathrm{.}06{)}^3}+\frac{\text{\$}60}{(0\mathrm{.}06-0\mathrm{.}03{)}^3}$

D$.P_0=\frac{\text{\$}4}{(1+0\mathrm{.}06)}+\frac{\text{\$}4}{(1+0\mathrm{.}06{)}^2}+\frac{\text{\$}4}{(1+0\mathrm{.}06{)}^3}+\frac{\text{\$}60}{(1+0\mathrm{.}06{)}^3}$