3. Investors expect that the Rowboat Company will pay an annual dividend of $2.26 per share exactly one year from today (i.e., D1=2.26 ). Investors also predict that this dividend payment will remain constant forever, since the company's sales are expected to remain the same in the future. If investors require a 12 percent rate of return on Rowboat Company stock, what is the maximum price that an investor would be willing to pay for one share of this stock today