[单选题]

Brandy Clark, CFA, has forecast that Aceler, InC., will pay its first dividend two years from now in the amount of $25. For the following year she forecasts a dividend of $2.00 and expects dividends to increase at an average rate of 7% for the foreseeable future after that. If the risk-free rate is 4.5%, the market risk premium is 7.5%, and Aceler's beta is 0.9, Clark would estimate the current value of Aceler shares as being closest to:

A.$37.

B.$39.

C.$47.

参考答案与解析:

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