Current Attempt in Progress

Novak Ltd$.$ just paid a dividend of $$4\mathrm{.}00$ per share, which is expected to grow at a constant rate of $6\mathrm{.}5$ percent indefinitely. The T$-$bill rate is $5\mathrm{.}0$ percent and the risk premium of Novak Ltd$.$ is $8\mathrm{.}5$ percent. Calculate Novak's current share price.

$$57\mathrm{.}14$

$$60\mathrm{.}00$

$$60\mathrm{.}86$

$$64\mathrm{.}86$