Question: Dunder-Mifflin/Sabre does not currently pay a dividend but is expected to pay their first dividend of $3.50 in three years and then grow that dividend

Dunder-Mifflin/Sabre does not currently pay a dividend but is expected to pay their first dividend of $3.50 in three years and then grow that dividend at 7.5% each year. If the market requires a return of 15%, what should be the current price of their stock? A. $30.68 B. $46.67 C. $35.29 D. $26.68

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