A REIT Has an NOI of $15 Per Share and Currently

A REIT has an NOI of $15 per share and currently pays a dividend of $10 per share.The dividend is projected to increase by 4 percent by next year and continue to increase by 4 percent per year thereafter.Assuming that the blended cap rate is 9.75 percent and the required rate of return is 10.5 percent,what would the net asset value (NAV) of the REIT be?

A) $60.15
B) $71.89
C) $153.85
D) $160.00