Thirsty Cactus Corp. just paid a dividend of $1.55 per share. The dividends are expected to grow at 30 percent for the next 8 years and then level off to a 7 percent growth rate indefinitely.
Required : If the required return is 12 percent, what is the price of the stock today?
A) $134.97 B) $137.67 C) $109.28 D) $2.38