11. You are considering investing in CVB Inc, which just paid a $6 dividend. You expect the dividend to grow at a 5% rate for the next three years, before it levels off to a constant 3% rate thereafter. If you require a 12% rate of return, how much would you be willing to pay for the stock? Round intermediate steps to four decimals.

		88.59
		66.36
		60.35
		None of the above