A company paid an annual dividend of $2.50 per share yesterday. The dividend is expected to remain constant for three years. At year three, after receiving the dividend, the stock can be sold for $47 a share. If the appropriate discount rate for the stock is 9.4 percent, what is the price of the stock today?

Group of answer choices

$54.50

$51.06

$44.68

$47.00

$42.18