Assume ABC Corp. pays the dividend of $3.32 this year. For the next 26 years, the firm's dividend will grow by 6.1%, then it will grow by 5.4% each year afterwards. The required rate of return for the firm's industry is 11.6%. What is the present value of the firm's stock under the Dividend Discount Model? $46.71 $61.87 $15.17 $62.00