Assume XYZ Corp.'s dividend payment will be $3.12 one year from now, $3.63 two years from now, and $3.92 three years from now. Further assume that after these three years, the dividend will grow by 5.4% each year. If the required rate of return for the industry XYZ Corp. belongs to is 11.1%, what is the market value of XYZ Corp.'s stock under the Dividend Discount Model? $63.39 $61.47 $48.95 $59.48