You see a mature, stable stock with a high dividend payout that you want to value. The stock paid a dividend of $5.42 per share over the past twelve months. Dividends are growing at a constant rate of 3.0% per year. The risk-free rate of return is 4% and the market risk premium (expected return on the S&P 500 minus the risk-free rate of return) is 6%. The stock has a beta of 1.17 versus the S&P 500. Calculate the intrinsic value of this stock using the constant growth dividend discount model. Group of answer choices $69.61 $70.75 $68.82 $71.27