You are considering buying common stock in Grow On, Inc. You have projected that the next dividend the company will pay will equal $5.10 and that dividends will grow at a rate of 9.0% per year thereafter. If you would want an annual return of 16.0% to invest in this stock, what is the most you should pay for the stock now?

Question 22 options:

	$79.41
	$72.86
	$31.88
	$34.74
	$79.60