lapter $8$ Homework $($i

Saved

Lohn Corporation is expected to pay the following dividends over the next four years: $$12,$$$8,$$$4,$ and $$3.$ Afterward, the company pledges to maintain a constant $6$ percent growth rate in dividends forever.

If the required return on the stock is $13$ percent, what is the current share price?

Multiple Choice

$$56\mathrm{.}15$

$$46\mathrm{.}89$

$$49\mathrm{.}36$

$$48\mathrm{.}02$