You are considering purchasing stock in Canyon Echo. You feel the company will increase its dividend at 4.7 percent indefinitely. The company just paid a dividend of $3.38 and you feel that the required return on the stock is 10.9 percent. What is the price per share of the company's stock?


a.$54.22


b.$57.08


c.$51.37


d.$31.01


e.$54.52