Marshall Arts Studios just paid an annual dividend of $1.36 a share.The firm plans to pay annual dividends of $1.50,$1.55,and $1.58 over the next 3 years,respectively.After that time,the dividends will be held constant at $1.70 per share.What is this stock worth today at a 9 percent discount rate?
A)$14.08
B)$14.30
C)$16.67
D)$16.79
E)$18.49

Question

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The Answer of Marshall Arts Studios just paid an annual dividend of $1.36 a share.The firm plans to pay annual dividends of $1.50,$1.55,and $1.58 over the next 3 years,respectively.After that time,the dividends will be held constant at $1.70 per share.What is this stock worth today at a 9 percent discount rate?
A)$14.08
B)$14.30
C)$16.67
D)$16.79
E)$18.49

Marshall Arts Studios Just Paid an Annual Dividend of $1