1. Delco Stores Inc is expected to pay an annual dividend next year of $3.10 a share, a dividend in Year 2 of $3.22, and a dividend in Year 3 of $3.34. Thereafter dividends are expected to grow at a constant rate of 1.25 percent annually. What is the price of Delco Stores stock given a required return of 11 percent.

   	A.	$41.83
   	B.	$30.45
   	C.	$37.58
   	D.	$45.91
   	E.	$33.21