Village East expects to pay an annual dividend of $1.40 per share next year, and $1.68 per share for the following two years. After that, the company plans to increase the dividend by 3.4 percent annually. What is this stock's current value at a discount rate of 13.7 percent?
A. $14.09
B. $17.28
C. $15.15
D. $16.08
E. $18.18
Ans: C. $15.15
Business
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