11. Equate Inc. stock currently sells for $27.00 per share. The stock is projected to have a constant growth in dividends. The expected dividend yield on the stock is 3%. The required rate of return on the stock, rs, is 6.70%. What is the stock's expected price 8 years from today?

Group of answer choices

$34.20

Cannot be determined with the given information.

$36.11

$45.36