What is the price of a stock estimated to pay a dividend of Rs.60 next year, if the dividend growth rate is 5% and the appropriate discount rate is 8%?

What is the price of a stock estimated to pay a dividend of Rs.60 next

1.	What is the price of a stock estimated to pay a dividend of Rs.60 next year, if the dividend growth rate is 5% and the appropriate discount rate is 8%?
A.	Rs.18
B.	Rs.19
C.	Rs.20
D.	Rs.21
Answer» D. Rs.21