You are considering the purchase of crown bakery, inc common stock that just paid a dividend of $3.77 per share. You expect the dividend to grow at a rate of 3.28 percent per year, indefinitely. You estimate that a required rate of return of 10.25 percent, will be adequate compensation for this investment. What is the most that you would be willing to pay for the common stock If u were to purchase it today?
a.98.82
b.57.23
c.48.66
d.55.86