A company has just paid out a per-share dividend of $3.80 on its common stock. Analysts expect the company's earnings and dividends to grow at a constant rate of 3.25% for the foreseeable future. If investors require a return of 8% on this stock, what should each share of the stock be selling for today?

A. $80.00

B. $49.01

C. $47.47

D. $82.60