17) The growth in dividends of Torque, Inc. is expected to be 9.4% per year for the next two years, followed by a growth rate of 4.7% per year for two years. After this four-year period, the growth in dividends is expected to be 3.7% per year, indefinitely. The required rate of return on Torque, Inc. is 11%. Last year's dividends per share were $3.1. What should the stock sell for today? Choose the closest answer.

a.$49.64

b.$46.97

c.$48.29

d.$45.38