Question: Choose the correct answer and enter into the answer space below: Akers has just set next year's dividend at $2.20 a share. The company also

Choose the correct answer and enter into the answer space below:

Akers has just set next year's dividend at $2.20 a share. The company also announced that all future dividends will increase by 4.5% annually. What is the maximum amount you should pay to purchase a share of Akers' stock if your goal is to earn a 12% rate of return?

A. $32.15

B. $31.09

C. $30.47

D. $29.33

E. $28.56

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