Cyberdyne Systems just paid a dividend of $1.32 on its common stock, and the next dividend will be paid one year from now. You require a return of 6%. What is the market price of this stock if dividends are paid annually in perpetuity and grow at the rate of 2.62% per year forever?
◦ $15.31
◦ $15.71
◦ $22.58
◦ $39.05
◦ $40.08