Question: (Please show me all work and step by step calculations, Thank you!) Whited Inc.'s stock currently sells for $35.25 per share. The dividend is projected

(Please show me all work and step by step calculations, Thank you!)

Whited Inc.'s stock currently sells for $35.25 per share. The dividend is projected to increase at a constant rate of 5.25% per year. The required rate of return on the stock, rs, is 11.50%. What is the stock's expected price 5 years from now?

a. $52.81

b. $39.15

c. $45.53

d. $40.06

e. $47.80

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