Answer:
The current price of the stock is $93.036
Explanation:
The zero growth dividend model provided by the DDM will be used here to calculate the value of stock today. The stock's dividedn are just like a perpetuity. The value or pirce of a perpetuity is,
P0 = D / r
Where,
D is the dividend
r is the required rate of return
P0 = 3.34 / 0.0359
P0 = $93.036