Question: Wish You Were Here, Inc, currently does not pay a dividend but is expected to pay its first annual dividend of $5.60 per share exactly

Wish You Were Here, Inc, currently does not pay a dividend but is expected to pay its first annual dividend of $5.60 per share exactly 9 years from today. After that, the dividends will grow at 3.3 percent forever. If the required return is 12.7 percent, what is the price of the stock today?

Answer options

$20.31

$22.89

$45.95

$59.57

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