Assume Silvios Steakhouse pays the dividend of $3.61 this year. For the next 30 years, the firms dividend will grow by 5.4%, then it will grow by 4.8% each year afterwards. The required rate of return for the firms industry is 11.6%. What is the present value of the firms stock under the Dividend Discount Model?

Group of answer choices

$50.32

$10.02

$55.33

$60.33