Jessica's Pharmacy Made Two Announcements Concerning Their Common Stock Today

Jessica's Pharmacy made two announcements concerning their common stock today. First, the company announced the next annual dividend will be $1.48 a share. Secondly, all dividends after
That will increase by 2.5% annually. What is the maximum amount you should pay to purchase a
Share of this stock if your goal is to earn a 12% rate of return?

A) $12.33
B) $12.64
C) $13.27
D) $15.58
E) $15.97