(Ch. 6) Silveira & May Corp. just paid a dividend on its common shares of $1.07. If the Market expects
the company's dividends to grow at a constant rate of 2%, and it currently has a Required Rate of Return
of 9%, at what approximate price should the stock now be trading, using the "Gordon Model?"
$16.10
$15.25
$14.50%
$15.59