Beaksley, Inc. is a very cyclical type of business which is reflected in its dividend policy. The firm pays a $2.00 a share dividend every other year with a payment being paid today. Five years from now, the company is repurchasing ail of the outstanding shares at a price of $50 a share. What is the current value of one share at a discount rate of 12 percent? $27.89 $33.78 $31.24 $34.03 $34.99