1. Monsters Inc. is a utility company that recently paid a common stock dividend of $2.35 per share. Determine the current price of a share of Monsters' common stock if its dividend growth rate is expected to remain at 7 percent per year indefinitely and its equity cost of capital is 12 percent.
2. A. $50.29 
3. B. $47.00 
4. C. $38.00 
5. D. $55.0

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