Betty is contempating purchasing shares in Daily Bugle Corp. and holding them for 2 years, at which time she will sell them. The market price of these shares is expected to be $36.50 in two years (after the second dividend.) The next two annual dividends are expected to be D1=$1.00 and D2=$1.20. The first dividend will be paid on one year and the second in two years. Betty requires a return of 11%. What is the maxium prices Betty is willing to pay for shares in this company?

A. 30.53

B. 30.60

C. 31.33

D. 31.50

E. 31.99