Nu-Tek Is Expanding Rapidly

Nu-Tek is expanding rapidly.As a result, the company expects to pay annual dividends of $.62, .80, and $1.05 per share over the next three years, respectively.After that, the dividend is projected to increase by 4 percent annually.What is the current value of this stock if the required return is 16 percent?

A) $7.63
B) $9.67
C) $10.46
D) $6.58
E) $8.49