# Question: apple inc pays quarterly dividends the next dividend will be...

###### Question details

Apple Inc. pays quarterly dividends. The next dividend will be paid 2 months from now. The last dividend was paid 1 month ago and the amount was $0.73 per share. Suppose the concensus belief is that the dividend will be growing at a rate of 1% per dividend. If we assume an annual discount rate of 6% (expressed as EAR), what is the fair value of Apple's stock?

a.156.95

b.156.99

c.158.52

d.159.29