You see a mature, stable stock with a high dividend payout that you want to value. The stock paid a dividend of $1.42 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. O $20.75 O $18.24 $18.82 $21.27