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AAA Company's last dividend was $ 1 . 2 5 . The dividend growth rate is expected to be constant at 3 5 % for

AAA Company's last dividend was $1.25. The dividend growth rate is expected to be constant at 35% for 3 years, after which dividends are expected to grow at a rate of 6% forever. If the fir's required retum (ts) is 11.5%, what is its current stock price? Do not round intermediate calculations.
a. $44.19
O b. $59.37
c. $48.32
d. $33.89
e. $37.69

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