P$8-17$ Nonconstant Dividends $[$LO$1]$

Latn Corporation is expected to pary the following dividends over the next four years: $$12,$$$10.$$$6,$ and $$4.$ Aherward, the company pledges to maintain a constant $8$ percemt growth rate in dividends forevel.

If Dee required return on the stock is $14$ percent, what is the current share price?

Matiple Cholce

$57200$

$56727$

$$65\mathrm{.}40$

$567\mathrm{.}51$