d) The Slim Waist announced today that they will begin paying annual dividends. The first dividend will be paid next year in the amount of $0.35 a share. The following dividends will be $0.40, $0.55, and $0.70 a share annually for the following three years, respectively. After that, dividends are projected to increase by 2.5% per year. How much are you willing to pay to buy one share of this stock if your desired rate of return is 12%