Yesterday BrandMart Supplies Paid Its Common Stockholders a Dividend Equal

Yesterday BrandMart Supplies paid its common stockholders a dividend equal to $3 per share.BrandMart expects to pay a $5 per share one year from today.After the $5 dividend is paid, the company expects its growth rate will remain constant at 4 percent per year forever.If BrandMart's investors demand a 12 percent rate of return, what should be the current market price of the company's stock?

A) $62.50
B) $65.00
C) $62.27
D) $37.50
E) None of the above is correct.