Question: A company's most recent dividend payment was $ 0 . 8 0 per share. It is expected that the dividends will increase by 2 %

A company's most recent dividend payment was $0.80 per share. It is expected that the dividends will increase by 2% in Year 1,3% in Year 2,4% in Year 3. After that, dividends will increase at a rate of 5% per year indefinitely. If the required return is 11%, what is the price of the share? (Note: round only the final answer to two decimal places)
$17.83
$13.24
$11.35
$18.57
$12.00

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