Winter Time Adventures Is Going to Pay an Annual Dividend

Multiple Choice

Winter Time Adventures is going to pay an annual dividend of $2.86 a share on its common stock next year.This year,the company paid a dividend of $2.75 a share.The company adheres to a constant rate of growth dividend policy.What will one share of this common stock be worth five years from now if the applicable discount rate is 11.7 percent?

A) $43.45
B) $43.87
C) $44.15
D) $45.19
E) $47.00