The Farmer's Market Just Paid an Annual Dividend of $5

Multiple Choice

The Farmer's Market just paid an annual dividend of $5 on its stock.The growth rate in dividends is expected to be a constant 5 percent per year indefinitely.Investors require a 13 percent return on the stock for the first 3 years,a 9 percent return for the next 3 years,a 7 percent return thereafter.What is the current price per share?

A) $212.40
B) $220.54
C) $223.09
D) $226.84
E) $227.50