Question: 47. TL Tools has stated that they will continue paying annual dividends for 6 more years and then discontinue all dividends. The required return on

47. TL Tools has stated that they will continue paying annual dividends for 6 more years and then discontinue all dividends. The required return on this stock is 11 percent and the dividend growth rate is 2.5 percent. The next dividend is expected to be $1.30. What is the current value of TL Tools stock? A. $4.77 B. $5.81 C. $6.10 D. $6.82 E $8.31

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