S&P Enterprises Will Pay an Annual Dividend of $2

Multiple Choice

S&P Enterprises will pay an annual dividend of $2.08 a share on its common stock next year. Last week,the company paid a dividend of $2.00 a share. The company adheres to a constant rate of growth dividend policy. What will one share of S&P common stock be worth ten years from now if the applicable discount rate is 8%?

A) $71.16
B) $74.01
C) $76.97
D) $80.05
E) $83.25