$40.57

$42.65

$43.75

$44.87

$49.84

Burke Tires just paid a dividend of D₀ = $1.32. Analysts expect the company's dividend to grow by 30% this year, by 12% in Year 2, and at a constant rate of 5% in Year 3 and thereafter. The required return on this low-risk stock is 9.50%. What is the best estimate of the stock's current market value?