Thirsty Cactus Corp. just paid a dividend of $1.40 per share. The dividends are expected to grow at 30 percent for the next 6 years and then level off to a 9 percent growth rate indefinitely. Required : If the required return is 14 percent, what is the price of the stock today?
a. $67.11
b. $1.49
c.$80.75
d.$82.37
e.$79.14
Please show work.