Designer Brick recently paid $3.50 as an annual dividend. Future dividends are projected at $3.80, $4.10, and $4.35 over the next three years, respectively. Beginning four years from now, the dividend is expected to increase by 3.0 percent annually. What is one share of this stock worth today at a discount rate of 12 percent? Hint: Calculate the year 4 dividend and use this answer to calculate the stock value as of year 3 using the Constant Dividend Growth stock value equation Add the Year 3 stock value to the Year 3 dividend. Then discount cash flows using CF on calculator. $42.80 $42.92 $45.19 $15.88 $46,50