Starbucks company’s dividends are declining at an annual rate of 6 percent. The company just paid a dividend of $4 per share. You require a 16…

Starbucks company’s dividends are declining at an annual rate of 6 percent. The company just paid a dividend of $4 per share. You require a 16 percent rate of return. How much will you pay for this stock?

$15.33

$17.09

$12.57

$13.85

$19.20

$21.78