$(2)$

A firm expects to pay an annual dividend of $$4\mathrm{.}77$ per share on its stock one year from today. Based on the historical dividend payment pattern, an analyst assumed the dividend will grow at a constant rate of $3\mathrm{.}1$ percent per year indefinitely. The appropriate discount rate for this stock is $15\mathrm{.}81$ percent. What is the value of one share of this stock today?

$$30\mathrm{.}17$

$$37\mathrm{.}53$

$$153\mathrm{.}87$

$$38\mathrm{.}69$

$$31\mathrm{.}11$