You are considering buying common stock in Grow On, Inc. The firm yesterday paid a dividend of $8.40. You have projected that dividends will grow at a rate of 9.0% per year indefinitely. If you want an annual return of 16.0%, what is the most you should pay for the stock now?

Group of answer choices

$142.90

$120.00

$52.50

$57.23

$130.80