CJ Corp Is Expected to Pay a Dividend of $10

CJ Corp. is expected to pay a dividend of $10.00 per year indefinitely. If the appropriate rate of return on this stock is 15 percent per year, and the stock consistently goes ex-dividend 25 days before the dividend payment date, what will be the expected minimum price in light of the dividend payment logistics?

A) $45.66
B) $66.03
C) $66.67
D) $75.93