Anybody Coal Corporation expects tough economic situations for foreseeable future. Their current beta is 1.2, the risk free rate is 10 percent and the required rate of return on the market is 15 percent. Anybody paid a dividend of $4 today. Analysts are predicting a steady decline of 6 percent per year in dividends for the foreseeable future. What is the most you would be willing to pay for this stock?
a) $0
b) $42.40
c) $44.94
d) $17.09
e) $25.00