Jefferson Mills just paid a dividend of $1.56 per share on its stock.The dividends are expected to grow at a constant rate of 8 percent per year,indefinitely.What will the price of this stock be in 7 years if investors require a 15 percent rate of return?
A)$28.18
B)$32.04
C)$37.46
D)$41.25
E)$43.33

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The Answer of Jefferson Mills just paid a dividend of $1.56 per share on its stock.The dividends are expected to grow at a constant rate of 8 percent per year,indefinitely.What will the price of this stock be in 7 years if investors require a 15 percent rate of return?
A)$28.18
B)$32.04
C)$37.46
D)$41.25
E)$43.33

Jefferson Mills Just Paid a Dividend of $1