Berkshire Homes recently paid $2.20 as an annual dividend. Future dividends are projected at $2.30, $2.50, and $2.75 over the next 3 years, respectively. Beginning four years from now, the dividend is expected to increase by 4% annually. What is one share of this stock worth to you today if you require an 11% rate of return?

		$32.00
		$31.96
		$33.14
		$34.86
		$35.99