A stock is expected to pay its first $6 dividend in 4 years from now. The dividend is expected to be paid annually forever and grow by 1% pa. The discount rate is 5% pa. Estimate the current stock price. The current stock price should be:

Select one:

a.

$94.0231

b.

$117.5289

c.

$129.5756

d.

$135.5756

e.

$150

Clear my choice