NanTech Corporation's next dividend is expected to be $1.75. Dividend growth has been a consistent 7% per year. If investors want a 12% return, determine the stock price 5 years ago.

A) $24.95
B) $25.55
C) $26.05
D) $26.95
E) $27.55

Dividend Growth

The rate at which a company's dividend payments increase over time, often seen as a sign of the company's financial health and growth prospects.

Investors Want

refers to the goals or returns that individuals or institutions seek when investing their capital, such as income, safety, or growth.