Textile Importers Paid a $1

Textile Importers paid a $1.60 per share annual dividend last week. Dividends are expected to increase by 4% annually. What is one share of this stock worth to you today if your required rate of return is 13.5%?

A) $16.84
B) $17.52
C) $19.23
D) $19.87
E) $20.59