Marshall Arts Studios just paid an annual dividend of $1.36 a share. The firm plans to pay annual dividends of $1.40, $1.46, and $1.58 over the next 3 years, respectively. After that time, the dividends will be held constant at $1.60 per share. What is this stock worth today at a 9 percent discount rate?
$14.08
$14.30
$16.67
$16.79
$17.46
The answer on previous posts is showing 17.802 which is not an option.