analyst predict that east toys inc will pay divended of $3 per share in year 1 1,$3.5 per share in year 2 and $3.8 per share in year 3. the firm then expects its dividend to decrease by 5% per year for three years (year 4 and 5). thereafter the divedened will grow at 6% indefinitely. the required rate of return is 10%. what is the value of stock today?

a. 59.55

b. 48.94

c. 39.45

d. $ 32.81

e. none of the above