Question: Software Sales Supply is expected to pay its first annual dividend of $1.15 per share in Year 3. Starting in Year 6, the company plans

Software Sales Supply is expected to pay its first annual dividend of $1.15 per share in Year 3. Starting in Year 6, the company plans to increase the dividend by 3.2 percent per year. What is the value of this stock today, Year 0, at a required return of 13.25 percent?

$7.83
$8.25
$8.45
$10.36
$12.32

Show work please

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