16. A start up company has declared that it will not pay any dividends on its stock over the next 9 years because it requires all its earnings to be plowed back into the business to fuel growth. The firm will pay a $14 per share dividend 10 years from today and will increase the dividend 3.9% per year thereafter. If the required return on this stock is 12.5%, what is the current stock price? (Hint: D10 = $14) Between $40 and $45 Between $45 and $50 Between $50 and $55 Between $55 and $60 Between $60 and $65 Between $65 and $70