Casey Hyunh is trying to value the stock of Resources Limited. To easily see how a change in one or more of her assumptions affects the estimated value of the stock, she is using a spreadsheet model. The model has projections for the next four years based on the following assumptions. Sales will be $300 million in Year 1. Sales will grow at 15 percent in Years 2 and 3 and 10 percent in Year 4. Operating profits (EBIT) will be 17 percent of sales in each year. Interest expense will be $10 million per year. Income tax rate is 30 percent. Earnings retention ratio would stay at 0.60. The per-share dividend growth rate will be constant from Year 4 forward, and this final growth rate will be 200 basis points less than the growth rate from Year 3 to Year 4. The company has 10 million shares outstanding. Hyunh has estimated the required return on Resources stock to be 13 percent. Question: The value of the stock at the end of Year 4 based on the above assumptions Select one: a. 34.87 b. 35.87 c. 36.87 d. 37.87