You are considering buying common stock in Grow On$,$ Inc. You

have projected that the next dividend the company will pay will

equal $$8\mathrm{.}60$ and that dividends will grow at a rate of $5\mathrm{.}0\%$ per year

thereafter. If you would want an annual return of $16\mathrm{.}0\%$ to invest

in this stock, what is the most you should pay for the stock

now?$$$$56\mathrm{.}44$$$82\mathrm{.}09$$$53\mathrm{.}75$$$78\mathrm{.}18$$$85\mathrm{.}42$