Aston Asphalt has paid an annual dividend of $1 per share on its common stock for the past 10 years and is expected to continue paying a dollar a share long into the future. Given this, one share of the firm's stock is:
a. basically worthless as it offers no growth potential
b. valued at an assumed growth rate of 1 percent
c. equal in value to the present value of $1 paid one year from today
d. worth $1 a share in the current market
e. priced the same as a $1 perpetuity
